Sumitomo Chemical Co Ltd - SOMMY STOCK NEWS

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Sumitomo Chemical Co., Ltd (SOMMY) is a prominent Japanese chemical company engaged in developing functional chemicals through a collaborative venture with Ginkgo Bioworks. The partnership focuses on utilizing synthetic biology for the mass production of products across diverse industries such as personal care, cosmetics, agriculture, and pharmaceuticals. By leveraging Ginkgo's strain design technology and Sumitomo Chemical's manufacturing expertise, the companies aim to create a sustainable solution with a lower carbon footprint. This innovative approach underscores Sumitomo Chemical's commitment to environmental responsibility and its efforts to revolutionize the chemical industry through cutting-edge technologies.

07/18/2023 07:01 AM

News

Ginkgo Bioworks and Sumitomo Chemical Announce Expanded Partnership To Develop Functional Chemicals with Synthetic Biology

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Sumitomo Chemical and Ginkgo Bioworks announce a new program to develop functional chemicals with synthetic biology. The companies aim to enable mass production of functional chemicals via fermentation, providing products with a lower carbon footprint.

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Ginkgo Bioworks Announces Latest Collaboration for Beauty and Personal Care Industry with Sumitomo Chemical

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Ginkgo Bioworks (NYSE: DNA) announced a new cell programming project in collaboration with Sumitomo Chemical Co., Ltd. This partnership focuses on producing sustainable, animal-free molecules for the personal care and cosmetic industries. Leveraging Ginkgo's expertise and extensive codebase, the project aims to enhance sustainability while offering competitive advantages in the market. Sumitomo Chemical recognizes the potential of synthetic biology in meeting the growing demand for eco-friendly products. This initiative complements their ongoing collaboration, initiated in 2021, aimed at bio-based production across multiple sectors.

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FAQ

What is the current stock price of Sumitomo Chemical Co (SOMMY)?

The current stock price of Sumitomo Chemical Co (SOMMY) is $11.69 as of February 28, 2025.

What is the market cap of Sumitomo Chemical Co (SOMMY)?

The market cap of Sumitomo Chemical Co (SOMMY) is approximately 3.7B.

What is Sumitomo Chemical known for?

Sumitomo Chemical is a leading Japanese chemical company with a diverse product portfolio in Essential Chemicals & Plastics, Energy & Functional Materials, IT-related Chemicals, Health & Crop Sciences, and Pharmaceuticals.

Who are Sumitomo Chemical's partners in the latest functional chemicals project?

Sumitomo Chemical is collaborating with Ginkgo Bioworks to develop functional chemicals through synthetic biology and fermentation.

What is the goal of the collaboration between Sumitomo Chemical and Ginkgo Bioworks?

The partnership aims to mass-produce functional chemicals with a lower carbon footprint by utilizing microbial fermentation and synthetic biology.

How does Sumitomo Chemical plan to contribute to a carbon-neutral society?

Sumitomo Chemical aims to replace traditional fossil fuel-based chemical synthesis with sustainable production methods to reduce environmental impact and promote sustainability.

What technologies are Sumitomo Chemical and Ginkgo Bioworks leveraging in their collaboration?

The companies are utilizing Ginkgo's strain design technology and Sumitomo Chemical's manufacturing expertise to develop innovative solutions for mass-producing functional chemicals.

Why is synthetic biology gaining traction in the chemical industry?

Synthetic biology offers the potential to create energy-saving processes, replace raw materials, and develop sustainable solutions in various industries, including chemicals.

What are the benefits of partnering with Ginkgo Bioworks for Sumitomo Chemical?

The collaboration with Ginkgo Bioworks provides Sumitomo Chemical access to advanced synthetic biology technologies and expertise to accelerate innovation and sustainability initiatives.

How does Sumitomo Chemical's latest project with Ginkgo Bioworks align with environmental goals?

By developing functional chemicals through microbial fermentation, Sumitomo Chemical and Ginkgo Bioworks aim to offer sustainable products with a reduced carbon footprint, contributing to environmental conservation.

What role does Sumitomo Chemical play in the partnership with Ginkgo Bioworks?

Sumitomo Chemical is responsible for developing the manufacturing process and scale-up for commercializing the functional chemicals produced through microbial fermentation.

How does the collaboration between Sumitomo Chemical and Ginkgo Bioworks benefit consumers?

The partnership aims to introduce innovative, sustainable products across multiple industries, providing consumers with access to bio-based solutions that promote environmental responsibility.