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The Company is a biotechnology company that develops and plans to commercialize environmentally sustainable, economically attractive alternatives to petrochemical-based plastics, fuels and chemicals.
Metabolix is about to start full-scale production at it's Clinton Iowa plant. The plant was funded and built by ADM for the J/V with Metabolix.The product is bio-degradable plastic produced as a by-product of the ethanol process (already located in Iowa) and orders are expected to cause the plant to run at capacity quickly enough that Metabolix is already looking at the timing of construction for additional plants at the same location (the infrastructure for future plants was installed during the construction of phase 1 which will be completed by 1stQtr 2010).Metabolix is a group of MIT scientists who have been researching bio-engineering since the mid 1980's. They have patent protected their processes and compounds internationally. Bio-degradable plastic is the first of several products in this line of research and development. The next porduct in line is a class of chemicals know as C4 (four carbon) chemicals, which are used widely as industrial solvents in other mfg. processes. These chemical (and plastics) are currently made from oil.The stock had a high in the mid $28 range without a plant to produce anything....just patents. It has taken a thumping due to delays in the completion of the Clinton plant (not Metabolix fault...ADM's poor management), but should jump upwards nicely once shipments begin (1st Qtr 2010), and as their customer list becomes available. Also, FDA approval for long-term food contact usage should be granted before year's end.
dlaut FDA approval has now been granted last night. MBLX will now head towards its all time highs.. Press Release Source: Metabolix, Inc. On Tuesday May 11, 2010, 4:05 pm EDTCAMBRIDGE, Mass.--(BUSINESS WIRE)--Metabolix, Inc. (NASDAQ: MBLX - News) and Archer Daniels Midland Company today announced that Telles received U.S. Food and Drug Administration (FDA) clearance for the formulated products Mirel™ F1005 and F1006, food contact injection molding grades for use in food contact applications. The FDA accepted the submitted Telles notification, and clearance is effective as of May 11, 2010.Mirel F1005 and F1006 grades are now cleared for use in non-alcoholic food contact applications. The conditions of use range from frozen food storage to boiling water up to 212°F, including microwave reheating. Mirel is suitable for a wide range of injection molded food service and packaging applications including caps and closures, and disposable items such as forks, spoons, knives, tubs, trays, and hot cup lids. The clearance also includes products such as house-wares, cosmetics and medical packaging.“With the Clinton plant now in operation, and this FDA clearance, we now can move forward with brand owners’ requests to use Mirel in their injection molded food packaging applications,” stated Richard Eno, CEO of Metabolix. “These applications, which currently consume billions of pounds of petroleum-based polymers per year, offer considerable opportunity for growth of our biobased, biodegradable polymer, Mirel.”Telles engaged Intertek to help develop the full dossier for this food notification submission. Intertek is a leading provider of quality and safety solutions serving a wide range of industries around the world.About Mirel BioplasticsMirel is a family of bioplastic materials that have the physical properties of petroleum-based resins, but are biobased and biodegradable in natural soil and water environments, in home composting systems, and in industrial composting facilities where such facilities are available. The rate and extent of Mirel’s biodegradability will depend on the size and shape of the articles made from it. However, like nearly all bioplastics and organic matter, Mirel is not designed to biodegrade in conventional landfills.Commercial grades of Mirel are available for injection molding, cast sheet, thermoforming, and film applications. Telles is the joint venture between Metabolix and Archer Daniels Midland Company that is commercializing Mirel bioplastics. The first commercial-scale plant is located adjacent to the ADM wet corn mill in Clinton, Iowa. For more information please visit www.mirelplastics.com.About MetabolixFounded in 1992, Metabolix, Inc. is an innovation-driven bioscience company focused on providing sustainable solutions for the world’s needs for plastics, chemicals and energy. The Company is taking a systems approach, from gene to end product, integrating sophisticated biotechnology with advanced industrial practice. Metabolix is now developing and commercializing Mirel™, a family of high performance bioplastics which are biobased and biodegradable alternatives to many petroleum based plastics. Metabolix is also developing a proprietary platform technology for co-producing plastics, chemicals and energy, from crops such as switchgrass, oilseeds and sugarcane.For more information, please visit www.metabolix.com. (MBLX-G)About ADMEvery day, the 28,000 people of Archer Daniels Midland Company (NYSE: ADM - News) turn crops into renewable products that meet the demands of a growing world. At more than 230 processing plants, we convert corn, oilseeds, wheat and cocoa into products for food, animal feed, chemical and energy uses. We operate the world’s premier crop origination and transportation network, connecting crops and markets in more than 60 countries. Our global headquarters is in Decatur, Illinois, and our net sales for the fiscal year ended June 30, 2009, were $69 billion.For more information about our Company and our products, visit www.adm.com.
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