New MoU signed for butadiene production from renewable feedstocks
A Memorandum of Understanding has been signed by three companies to establish a partnership to enable production of butadiene from renewable feedstocks.
The joint venture is between elastomer producer Versalis, renewable chemical technology provider Genomatica and third generation integrated biorefineries pioneer Novamont.
Versalis will hold a majority interest in the joint venture holding company, with the ultimate aim being to develop an ‘end-to-end’ process and build the first commercial plants using the process technology upon project success.
Butadiene is a raw material used in footwear, plastics, asphalt modifiers, additives for lubricating oil, pipes, building components and latex.
‘This is a great opportunity to apply our concept of third generation integrated biorefineries to a well-known chemical like butadiene, applying new biotechnological and chemical processes to local biomass for an innovative industry at local level, thereby improving environmental, economical and social sustainability,’ said Novamont CEO Catia Bastioli. ‘And the ability for on-purpose production will make it easier to adjust supply to meet local market demand while staying close to a low volatility feedstock and reducing environmental footprint.’