SAN DIEGO (Aug. 24, 1:15 p.m. ET) — Genomatica Inc., which is working to transform waste into chemicals, plans to become a public company.
The San Diego-based company has filed paperwork with the U.S. Securities and Exchange Commission for a proposed initial public offering of common stock.
Genomatica has yet to determine a share price and amount, the company said.
Earlier this week, Genomatic announced that it had signed a letter of intent with Novamont SpA to set up a joint venture.
The companies expect the JV will lead to the 2012 opening of a plant in Europe that will make bio-based butanediol (BDO), an intermediate that can be used in polymers like Novamont's biodegradable plastic, Mater-Bi.
Waste Management Inc. earlier this year, made an investment in Genomatica with a goal of helping the company develop processes to transform materials in the waste stream such as paper, plastics and organics into chemicals.