AMES, IOWA – June 6, 2019 - Renewable Energy Group, Inc. (NASDAQ: REGI) announced today that it completed the sale of substantially all assets of REG Life Sciences’ to Genomatica on May 29, 2019.
“We are pleased to be selling our Life Sciences’ assets to Genomatica, who are well positioned to build upon the technical progress we have made, and to advance the team and the technology through to commercialization,” said REG’s CEO Cynthia J. Warner. “As we focus on our core strategies to grow our fuel business, this deal allows the technology to develop with a new owner while we retain the opportunity to participate in the successful commercialization of the technology in the future.”
REG acquired the Life Sciences business in 2014. Since then the team has successfully advanced the technology development over several years including through key strategic partnerships with Exxon Mobil and Clariant. Many of the REG Life Sciences team members will join Genomatica at its San Diego Innovation Center.
“Consumer demand for sustainable products continues to grow, and successful companies will increasingly switch to ingredients that reduce harm to the environment and work with partners with shared values,” said Christophe Schilling, Genomatica’s CEO. “This acquisition adds powerful technology and talent to help Genomatica enhance the sustainability of everyday products.”
Renewable Energy Group, Inc., (Nasdaq: REGI) is leading the energy industry transition to sustainability by transforming renewable resources into high-quality, cleaner fuels. REG is an international producer of cleaner fuels and North America’s largest producer of biodiesel. REG solutions are alternatives for petroleum diesel and produce significantly lower carbon emissions. REG utilizes an integrated procurement, distribution and logistics network to operate 14 biorefineries in the U.S. and Europe. In 2018, REG produced 502 million gallons of cleaner fuel delivering over 4 million metric tons of carbon reduction. REG is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.
Genomatica is a widely-recognized leader in bioengineering and aims to lead a transition to more sustainable materials. It develops bio-based process technologies that enable a better way to produce widely-used chemicals, from alternative feedstocks, with better economics, sustainability and performance. Genomatica has commercialized processes for the chemical butanediol (for biodegradable plastics and apparel) and for butylene glycol (cosmetics and personal care); and is working on bio-nylon. Awards include the Kirkpatrick Award, for “the most noteworthy chemical engineering technology commercialized in the world” and the ICIS Innovation Award for its Brontide™ butylene glycol. To learn more, visit www.genomatica.com.
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