PTT-MCC signs bio-succinic acid contract with BioAmber

I'm still trying to catch up with a lot of news that came out the past few weeks but unfortunately this week is a deadline week for me for Tecnon OrbiChem's Bio-Materials newsletter, so I'll make some of my postings brief.

Here is one from BioAmber about its first succinic acid take-or-pay contract with PTT-MCC Biochem, a joint venture formed in 2011 between Mitsubishi Chemical Corporation and PTT Public Company Limited of Thailand.  PTT-MCC was established to develop and produce polybutylene succinate (PBS), a biodegradable plastic made from succinic acid and butanediol (BDO). The company is currently building its first PBS plant in Map Ta Phut, Rayong, Thailand, with a capacity of 20 ktpa.

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Green chemicals investment roundup

While investment money being bestowed this year is not as big as those seen in 2008-2010, this is definitely better than nothing, and there seems to be more hope of investors opening up their wallets again.

Last month saw a lot of successful financing announcements. Segetis was able to get $21.2 million in funding from the Iron Range Resources and Rehabilitation Board (IRRRB), a state economic development agency based in northeastern Minnesota.

Segetis plans to construct a commercial-scale plant at the Laskin Energy Park in Hoyt Lakes, Minn., based in their levulinic acid platform. Total project investment is $105 million, 70% of which will be funded by the company. The Segetis project is forecasted to have an annual $55 million economic impact on the region, supporting over 545 jobs, according to an independent study from the University of Minnesota Extension Center for Community Vitality.

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Brazilian Industrial Biotech Association (ABBI) launched

Companies that include Amyris, BASF, BioChemtex, BP, Centro de Tecnologia Canavieira, Dow Chemical, DSM, DuPont, GranBio, Novozymes, Raizen and Rhodia have joined forces to form the Brazilian Industrial Biotechnology Association (Associação Brasileira de Biotecnologia Industrial or ABBI) with a primary objective of fostering a dialogue within Brazilian society about the advancements of industrial biotechnology in Brazil.


 

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