Genomatica Looking to Raise $150M
Claiming another milestone on its path to commercialization, San Diego-based Genomatica says it has successfully used a 13,000-liter fermentation tank in Decatur, IL, to produce what it calls a “demonstration-scale” batch of 1,4-Butanediol (BDO), which was previously synthesized through industrial chemical processes. Genomatica said it produced the “Bio-BDO” with partner Tate & Lyle and expects to be in commercial production in late 2012. The real news, however, came Monday when CEO Christophe Schilling told Reuters that Genomatica plans to raise as much as $150 million, possibly through an initial public offering.
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