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Versalis and the industrial biotech firm Genomatica have launched a joint venture to develop technology that converts biomaterials to the rubber raw material butadiene. The firms first disclosed plans for the venture in July 2012. As part of their agreement, Versalis, Italy’s largest chemical maker, will provide $20 million to Genomatica to finance development of the technology. The venture will then license the process across Europe, Asia, and Africa. “We’ve seen lots of different technologies out there. Genomatica was the clear choice,” says Versalis CEO Daniele Ferrari.
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