This news represents the achievement of a major milestone in Myriant’s ongoing growth and development in becoming a major global source of bio-succinic acid at commercial scale and to rigorous targets for commercial yield and product quality. In brief, stemming from an exclusive alliance formed in 2009 to commercialize bio-succinic acid, Myriant has completed the successful scaling and commercial production of bio-succinic acid at ThyssenKrupp Uhde’s biotech commercial validation facility in Leuna, Germany. Moreover, looking ahead, based on this all-important validation, ThyssenKrupp Uhde will provide important process and performance guarantees for the bio-succinic acid process at future Myriant plants built by Uhde.
The news carries important implications for Myriant’s competitive differentiation and global funding options for capitalizing future plant facilities. As noted in the news release carrying this announcement, which you can access here from our homepage, Stephen J. Gatto, Chairman and Chief Executive Officer for Myriant reinforced the global importance of this validation and ongoing alliance: “Myriant has established a track record for executing against our stated milestones and also for achieving significant industry-firsts. We believe obtaining a process guarantee from ThyssenKrupp Uhde will be an important strategic differentiator for Myriant in the bio-based chemicals industry and that, when coupled with a proven, scalable process, will enable us to access lower-cost capital to fund our plant build-out program in the United States and abroad.”
For those of you who may be unfamiliar with ThyssenKrupp Uhde, it employs more than 5,900 people worldwide in the Industrial Solutions business area of the ThyssenKrupp Group. The company’s activities focus on the engineering and construction of chemical and other industrial plants.