is a fast-growing bacterium found mostly in temperate soil and water habitats. The metabolic versatility of makes this organism attractive for biotechnological applications such as biodegradation of environmental pollutants and synthesis of added-value chemicals (biocatalysis). This organism has been extensively studied in respect to various stress responses, mechanisms of genetic plasticity and transcriptional regulation of catabolic genes. is able to colonize the surface of living organisms, but is generally considered to be of low virulence. A number of strains are able to promote plant growth. The aim of this review is to give historical overview of the discovery of the species and isolation and characterization of strains displaying potential for biotechnological applications. This review also discusses some major findings in research encompassing regulation of catabolic operons, stress-tolerance mechanisms and mechanisms affecting evolvability of bacteria under conditions of environmental stress.