Investor Relations

News Release Details

<< Back

Metabolix to Develop Advanced Industrial Oilseed Crops for Bioplastic and Biofuel Production

Feb 8, 2008

CAMBRIDGE, Mass., Feb 08, 2008 (BUSINESS WIRE) -- Metabolix, Inc. (NASDAQ: MBLX), a bioscience company focused on developing clean, sustainable solutions for plastics, fuels, and chemicals, announced today that it has initiated a program to develop an advanced industrial oilseed crop to produce bioplastics. Oilseeds are the primary feedstock for the more than 250 million gallons of biodiesel produced annually in the United States and the co-production of bioplastics promises to improve the economics of this crop industry.

As part of this initiative, Metabolix has established strategic research collaboration with noted oilseed experts at the Donald Danforth Plant Science Center, a leading not-for-profit research institute in St. Louis. Metabolix will assemble a team of scientists to establish a research and development presence in St. Louis. The team will work closely with Danforth's Principal Investigators Drs. Jan Jaworski, Edgar Cahoon and Joseph Jez. This collaboration is supported financially by a 2-year, $1.14 million grant from the Missouri Life Sciences Trust Fund to the Danforth Center.

"The Danforth Center has extensive experience in oilseed technology. Combining their experience with Metabolix's patented technologies could expedite the commercialization of multiple products in oilseed crops. This technology is expected to play an important role in reducing our reliance on fossil fuels," said Dr. Oliver Peoples, co-founder and Chief Scientific Officer of Metabolix. "This initiative aims to create another biobased route to economically produce bioplastics and biofuels in high yields directly in non food crops."

Industrial oilseeds represent the third crop system to which Metabolix is applying its patented technology. The company is a leader in developing enhanced switchgrass, and is also developing sugarcane crops to co-produce biobased and biodegradable plastic within the leaves and stems of these crops to more economically meet clean energy and bioplastic needs globally.

About Metabolix

Founded in 1992, Metabolix, Inc. is an innovation driven bioscience company focused on providing sustainable solutions for the world's needs for plastics, fuels and chemicals. 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(TM) bioplastics, a sustainable and biodegradable alternative to petroleum based plastics. Mirel is suitable for injection molding, extrusion coating, cast film and sheet, blown film and thermoforming. Metabolix is also developing a proprietary platform technology for co-producing plastics, biofuels and chemical products in energy crops such as switchgrass, oilseeds and sugarcane.

Metabolix and Archer Daniels Midland Company (ADM) are commercializing Mirel through a joint venture called Telles. The first commercial scale Mirel production plant is being constructed adjacent to ADM's wet corn mill in Clinton, Iowa. The plant is expected to begin operations in late 2008 and is designed to produce up to 110 million pounds of Mirel annually. Mirel will reduce reliance on petroleum and decrease environmental impacts relative to conventional petroleum based plastics.

For more information, please visit www.metabolix.com. (MBLX-G)

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements which are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding the development and commercialization of oilseed crop products and the completion of construction and commencement of operation of the commercial manufacturing facility and the actual manufacturing capacity of that facility, constitute forward-looking statements. Such forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated, including, without limitation, risks associated with the Company's ability to successfully develop and commercialize products, its dependence on ADM for construction of the commercial manufacturing facility, ADM's ability to complete construction of that facility on time and on budget, and other risks detailed in Metabolix's filings with the Securities and Exchange Commission, including Form 10-K for the year ended December 31, 2006. Metabolix assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.

SOURCE: Metabolix, Inc.

ICR
Media:
Matt Lindberg, 203-682-8214
matthew.lindberg@icrinc.com
or
Brian Ruby, 203-682-8268
brian.ruby@icrinc.com
or
Investors:
Kathleen Heaney, 203-803-3585
kheaney@icrinc.com

Copyright Business Wire 2008

News Provided by COMTEX