George Blitz

George Blitz, business vice president of Dow Ventures, in Nature Biotechnology, June 2005

So, on 24 January 2005, Dow Chemical bought itself out of the Cargill-Dow joint venture, taking a loss that the journal Nature Biotechnology estimated at $750 million.

Dow's timing, of course, could not have been worse.

George Blitz' explanation for Dow's withdrawal doesn't factor in the potential for supply shocks which are, by definition, unpredictable.

chemical industry in the long term," says George Blitz, business vicepresident of Dow Ventures."But," he added, "what gets tricky isdetermining the timeline."The venture had made phenomenal progress sinceit began in 1997.Yet too much time was needed "to get it to the nextlevel," according to Blitz.
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George Blitz business vice president of Dow Ventures The trick will betaking bioplastics out of their specialty niche to the conventional

"We believe [industrial biotechnology] holds significant promise for the chemical industry in the long term," says George Blitz, business vice president of Dow Ventures."But," he added, "what gets tricky isdetermining the timeline."The venture had made phenomenal progress since it began in 1997.Yet too much time was needed "to get it to the next level," according to Blitz.
...
George Blitz business vice president of Dow Ventures The trick will be taking bioplastics out of their specialty niche to the conventional market.