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Non-Tech : Metabolix [MBLX] a Full Disclosure Thread -- Ignore unavailable to you. Want to Upgrade?


To: richardred who wrote (40)10/12/2007 1:23:31 PM
From: richardred  Read Replies (2) | Respond to of 78
 
Metabolix Announces Results of Life Cycle Assessment for Mirel(TM) Bioplastics
Friday October 12, 9:05 am ET
Achieves Major Reduction in Greenhouse Gas and Fossil Fuel Relative to Conventional Plastics

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Metabolix Inc. (NASDAQ: MBLX - News) today announced that Telles(TM), its joint venture with Archer Daniels Midland Company (NYSE: ADM - News), has released the findings of an independent life cycle assessment (LCA) for Mirel(TM) bioplastic resin. The LCA study, conducted by Dr. Bruce Dale, professor of Chemical Engineering at Michigan State University, determined that production of Mirel reduces the use of nonrenewable energy by more than 95% and provides a 200% reduction in greenhouse gases (GHG) compared to production of conventional petroleum-based plastics.

Because Mirel is made from corn and utilizes renewable energy in its production, either directly or via offset, the environmental benefits are significant. The LCA measures the environmental impact of Mirel from "cradle to factory gate." Mirel requires only 2.5 MJ/kg of nonrenewable energy per kilogram verses 70 MJ/kg for olefins such as polypropylene and polyethylene. Mirel actually has a negative net CO2 footprint, showing a net result of -2.2 GHG emissions (kg CO2 eq. /kg) compared to a +2.0 GHG emissions (kg CO2 eq. /kg) for these olefin based polymers.

Mirel is a family of biobased, sustainable and biodegradable plastics with high-performance characteristics including excellent resistance to heat and hot liquids. Mirel biodegrades in a wide range of environments: soil, home compost, industrial compost and both fresh and salt water.

Jay Kouba, Chairman and CEO of Metabolix, stated, "The results of this independent study actually exceeded our expectations. It confirms the environmental benefits of Mirel bioplastics and its underlying technology. Our current and prospective customers can be confident, and proud, in telling their consumers that products containing Mirel are far better for the environment than conventional plastics." Telles, the Metabolix and ADM joint venture, is currently working with customers evaluating a variety of applications while constructing its commercial scale production plant which is expected to begin operations in late 2008.

Professor Dale will be publishing the results of the Mirel LCA and speaking at the Symposium on Biotechnology for Fuels and Chemicals in May 2008. Professor Dale commented, "Making informed decisions based on a product's environmental impact requires an understanding of its entire life cycle, from the activities required to produce its raw materials to the manufacturing process. Our LCA research validates Mirel's significant reductions in greenhouse gases and non-renewable fuel use through its entire life cycle when compared to conventional plastics."

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 biomass energy crops such as switchgrass.

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 Metabolix's plans and objectives for research and development, operations, and product development, the commercial viability of Metabolix products, and the expected sales potential of Metabolix products, 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 and uncertainties associated with: Metabolix's ability to successfully develop new technologies and products; the market acceptance of Metabolix products; its ability to compete with petrochemical-based plastics, fuels and chemicals and with other biobased products; its ability to develop and successfully commercialize its products; its ability to obtain required regulatory approvals; its ability to obtain, maintain and protect intellectual property rights for its products; 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.

Contact:

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

Source: Metabolix Inc.

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