January 25, 2011

Myriant and PTT Chem in bio-succinic JV

Southeast Asian chemical companies seem to be ahead of the game when it comes to partnering with renewable chemical companies (mostly US-based).

First we had Elevance Renewable Science partnering with Wilmar for specialty chemical production in Indonesia. Then BioAmber (formerly DNP Green Technology) partnering with Mitsui Chemicals for exclusive bio-succinic acid distribution in Asia, and Glycos Bio and METabolic Explorer partnering with Bio-XCell to build glycerine-based chemicals plants in Malaysia.

Now, Myriant announced yesterday that it formed a joint venture with Thailand-based PTT Chemical through a $60m equity investment. PTT Chemical, by the way, is Thailand's largest petrochemical producer (and co-owner of Malaysia-based oleochemical player Emery Oleochemicals --- just can't resist adding this). As far as announcements in the renewable chems sector this month, this is pretty significant indeed!

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