BP and Metabolix, Inc. of Cambridge, Massachusetts have agreed to a joint development program to develop renewable and biodegradable plastics.

The two-year collaboration will include BP's newly formed olefins and derivatives (O&D) petrochemical subsidiary. The agreement will research and develop grass crops containing high levels of naturally grown polymers which can be used to produce biodegrading plastic materials. A co-product of the process would be advantaged biomass material which can be converted to energy.

BP will provide financial support for the program as well as full-time staff over the two year period. In addition, the companies will explore commercial options to exploit any technology that results from the collaboration.

BP is one of the world's largest energy companies, providing its customers with fuel for transportation, energy for heat and light, retail services and petrochemicals products for everyday items. BP Solar is also a leader in renewable energy having developed photovoltaic products and markets for a quarter of a century.

3/25/2005