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Print Edition StoriesTuesday, March 16, 2010
Metabolix begins bioplastics production at new plant
By Mass High Tech staff
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Cambridge bioscience company Metabolix Inc. has begun production at its new Mirel bioplastics plant in Clinton, Iowa.
Metabolix CEO Richard Eno noted in a press release that the company is shifting its focus to increase sales of Mirel, develop new bioplastics technology and consider production plant expansion.
News of the company’s new plant opening coincided with its fourth-quarter and full-year financial results.
Metabolix (Nasdaq:MBLX) noted a slight increase in both its quarterly and full-year net loss in year-over-year comparisons. The company had a $9.8 million net loss for the 2009 fourth quarter, compared to a 2008 net loss of $8.9 million. Full-year results for 2009 ended with a net loss of $38 million, compared to $36 million in 2008.
Metabolix noted in its filing that the bioscience firm had responded to two notifications from the U.S. Food and Drug Administration pertaining to its use of product in contact with food, and it expects to be commercializing products for food contact use in its new fiscal year.
Founded in 1992, Metabolix develops a series of bioplastics and biodegradable alternatives to petroleum-based plastics, in addition to the technology to make plastics, energy and chemicals from raw materials.
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