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(Plastemart) -- Biotech
developer and manufacturer of renewable bio-based chemicals, Myriant
Technologies Inc. has closed a US$60 mln strategic equity investment from PTT
Chemical Group (PTT Chemical), Thailand's largest petrochemical producer.
Myriant will utilize the investment for the ongoing development of its bio-based
high-value chemicals technology, as well as to help fund the rapid
commercialization of its succinic acid platform, including construction of a
succinic acid plant in Lake Providence, Louisiana.
The investment includes the signing of the Head of Agreement for the
establishment of a joint venture between PTT Chemical and Myriant for deploying
Myriant's technology in Southeast Asia. By combining PTT Chemical's R&D
capabilities and Myriant's sophisticated technology, the joint venture will
further drive technologies for the manufacturing of green chemicals using the
abundant high quality bio-based feedstock available in Thailand and the Asian
region.
mrcplast.com
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