Metabolix signs letter of intent with Antibióticos for production of Mirel biopolymer resin

Metabolix, Inc. (NASDAQ: MBLX), an innovation-driven bioscience company focused on delivering sustainable solutions for plastics, chemicals and energy, today announced that it has signed a letter of intent (LOI) with Antibióticos S.A. for production of MirelTM biopolymer resin at its manufacturing facility in Leon, Spain.
 
Under the terms of the LOI, Metabolix will begin work immediately with Antibióticos to conduct a series of validation production runs to demonstrate fermentation and recovery of Mirel biopolymer resin on full production-scale equipment at Antibióticos. The companies plan to enter into a definitive contract manufacturing agreement for Mirel biopolymers based upon the validation production runs as well as completion of economic and engineering feasibility studies. Metabolix will own the Mirel biopolymer resin produced during the validation production runs.
 
Metabolix's biopolymers are based on polyhydroxyalkanoates which occur naturally in micro-organisms and plants. Mirel biopolymers are biobased, uniquely biodegradable, and suitable for a wide range of product applications. Metabolix has previously demonstrated production of Mirel biopolymer resin at industrial scale. Metabolix is currently supplying Mirel biopolymer resin to customers from existing inventory of approximately 5 million pounds.

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