Chemicals and innovation follows chemical company innovation strategies, investments, financing, people and awards. It is global in coverage and written by John Baker, global editor at ICIS, the chemicals and energy news and information provider.
Tuesday, 25 January 2011
Thai group goes green
Innovation involving green chemistry is getting plenty of investment and coverage these days, but it's not so usual to see non-Western companies making big commitments. But just the other day Thailand's PTT Chemical, a major producer of petrochemicals, made a $60m investment in US-based Myriant Technologies, which specialises in enzymatic production of speciality chemicals from low-cost cellulosic feedstocks.
Source: PTT Chemical
PTT Chemical, which was shortlisted last year in the ICIS Innovation Awards, for its development of green ABS polymer using natural rubber rather than synthetic, has a stated agenda of sustainable growth. It will form a joint venture with Myriant to drive the development of more green chemicals using the abundant bio-based materials available in Thailand. Myriant will in 2012 start up a 14,000 tonnes/year bio-succinic acid plant in Louisiana, US.