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San Diego-based start-up Genomatica has formed a joint venture with Italian biobased plastics maker Novamont to operate a 40 million-lb-per-year butanediol plant in Italy. The companies signed a letter of intent last August. The venture is spending $50 million to purchase an idle lysine facility in Adria, Italy, from BioItalia and retrofit it to make biobased butanediol by 2013. Novamont will hold a majority of the joint venture and will purchase all of the plant’s output for polymer production.
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