Geno

Based in California, Geno (formerly Genomatica) produces sustainable materials such as plastic and textile fiber made from plant-based alternatives to fossil fuels. The company claims that its bio-based production method lowers environmental impact by 93% compared to status quo methods. 

The company's Bio-BDO (BDO refers to butanediol which is used in plastic) sustainable material is used in apparel, shoes, electronics, and automotive products. Its Bio-Nylon sustainable fiber is used in clothing and carpets. Geno also offers a sustainable chemical product called Brontide BG which is used primarily in cosmetics and personal care applications. Geno has also  launched a new plant-based alternative to hexamethylenediamine (HMDA), a fossil-fuel based chemical used in nylon, coatings, and adhesives.  As of July 2021, the company possessed 2,000 issued or pending patents issued for its range of bio-based products.

Key customers and partnerships

The company also licenses its technology and partners with companies to set up bio-based production facilities. As of July 2021, the company has partnered with companies including Covestro, Cargill, Novamont, Aquafil, ExxonMobil, Clariant, and BASF who will use the company’s bio-based solutions. Covestro, under a new partnership deal signed in January 2022, will use Geno’s GENO HMD process for the commercial production of bio-based HMDA. Japanese multinational chemical manufacturer Asahi Kasei also signed an agreement in March 2022 to use Geno’s bio-based HMDA material and process technology to commercialize nylon 6,6.

In 2016, the company built its first Bio-BDO production facility for the Italian bioplastic maker Novamont to produce its “Mater-Bi bioplastics” which is used to make products such as biodegradable, compostable plastic bags, food packages, and coffee capsules. The USD 110 million plant has the capacity to produce 40 million pounds of Bio-BDO per year. 

Geno also partnered with Cargill in July 2021 to build a USD 300 million commercial bioplastic production plant that will reportedly triple the global production capacity of the Bio-BDO product to 100,000 tons per year when the facility becomes operational in 2024. For its Bio-Nylon product, Geno signed a multi-year agreement with European nylon producer Aquafil in 2020 to build a production facility that reportedly would increase the capacity of the material by 50x. The sustainable nylon material is expected to be used in leading clothing brands globally. 

In June 2022, Geno and Unilever jointly invested USD 120 million to launch a joint venture for the commercialization of plant-based alternatives to palm oil and fossil fuel-based cleansing ingredients. Later, Kao Corporation and L'Oréal joined the venture, bringing the collective member revenue to more than USD 100 billion.

Funding and financials

In 2020, the company reported that it generated revenue of USD 48 million which represents growth at a compound annual growth rate (CAGR) of 48% since 2016.  In July 2021, the company raised USD 118 million in a Series C funding round led by Novo Holdings. The company expects to use the funds to scale production and accelerate the commercialization of its plant-based sustainable material products globally.