Telles JV is ending

17.01.2012

Metabolix announced on Jan. 12, 2012 that ADM has given notice of termination of the Telles, LLC joint venture for PHA bioplastics. Metabolix however, will remain committed to successfully commercializing PHA bioplastics, as Richard Eno, CEO of Metabolix points out.

The effective date of the termination will be February 8, 2012. Telles was established as a joint venture between MetabolixCambridge, Massachissetts, USA, and ADM, Decatur, Illinois, USA in July 2006. The joint venture sells PHA-based bioplastics, including Mirel and Mvera, in the US, Europe and other countries.

All Metabolix technology concerning PHA bioplastics that was used in the joint venture, including intellectual property rights, will revert solely to Metabolix.

"Clearly, we are disappointed by ADM's decision to withdraw from Telles. While this is a setback, we remain committed to successfully commercializing PHA bioplastics. Over the past few years, we now have proven the technology at industrial scale and believe that we now have the opportunity to launch this business with a different business model," said Richard Eno, Chief Executive Officer of Metabolix. He continued, "We sincerely thank our customers, distributors, and partners for their interest in developing PHA-based solutions to address a growing market need for bioplastics. We will be evaluating alternate plans for commercialization and clearly wish to supply this growing market in the future."

Richard Eno added, "Most of all, I would like to express my appreciation for the efforts put forth by the Telles and ADM Polymer teams, who have demonstrated the commercialization of PHA bioplastics at world scale."

More details see http://ir.metabolix.com/releasedetail.cfm?ReleaseID=639044

Dr. Michael Thielen

mt@bioplasticsmagazine.com

Tel.: +49 2161 664864