NEW YORK – Solvay, a Belgian materials company, and Ginkgo Bioworks said on Tuesday that they have entered into a strategic collaboration.
Under the terms of the multiyear agreement, the firms will collaborate on new sustainable biopolymers. Solvay will also acquire a laboratory in Cambridge, Massachusetts, from Ginkgo, an asset that Gingko acquired from Zymergen as part of a $300 million deal in July 2022.
Financial and other details of the deal were not disclosed.
"We're thrilled to make this important investment and to partner with Ginkgo Bioworks on an exciting project to develop sustainable chemicals and materials, allowing us to provide innovative biotechnologies to new markets," Solvay CEO Ilham Kadri said in a statement. "Biotech is the future, and this step is an important milestone for our growth platform. We expect to leverage our new presence in the Boston area to step up and accelerate our offerings in this field."
Brussels-based Solvay offers materials for numerous end markets, including aerospace, electronics, consumer goods, and agriculture.
Boston-based Ginkgo Bioworks offers services for developing and optimizing the manufacture of chemical products using synthetic biology.