Quincy, Massachusetts – October 5, 2011 – Myriant Corporation today announced the successful development of its proprietary process for producing targeted bio-based chemicals, including succinic acid and both L(+) and D(-) lactic acid, from non-food, renewable, cellulosic feedstocks.
"Today's announcement is a significant step forward in our ability to continue driving the advancement and global use of cellulosic materials as the foundation for manufacturing of bio-based chemicals," said Stephen Gatto, CEO and Chairman of Myriant Corporation. "We recognized early on that these renewable feedstocks were a critical component of the technology platform for our succinic acid and lactic acid programs."
This development is an integral part of Myriant's manufacturing and commercialization strategy. "We believe that Myriant's ability to use non-food cellulosic feedstocks, as opposed to traditional food-based or petroleum-based feedstocks, gives it a critical global competitive advantage," said Mr. Gatto. The ability to take advantage of these abundant low-cost feedstocks allows Myriant to roll out its succinic acid and lactic acid manufacturing platforms throughout the world, without being restricted to scarce availability and expensive food-based feedstocks. Furthermore, it provides stable feedstock pricing, which will enable Myriant to offer its customers long term price stability.
In 2009, Myriant was awarded $50 million from U.S. Department of Energy, which supports the company's construction of its 30 million pound succinic acid facility in Lake Providence, Louisiana and the commercialization of its cellulosic succinic acid program. "The results achieved today testify to Myriant's continued leadership in the manufacture of cost-effective bio-based chemical intermediates and builds off of Myriant's core competency in industrial bio-technology," added Mr. Gatto.
The use of cellulosic biomass, an abundant global resource, will provide a renewable feedstock manufacturing base for many next-generation, bio-derived products. The success of the biochemical industry is highly dependent on a cost-effective, high-quality, and functional supply of sustainable biomass feedstocks.
Myriant utilizes proprietary technology to provide innovative, performance-based renewable chemicals utilizing low-cost sugars. In December 2010, Myriant broke ground on its 30 million pound commercial succinic acid facility in Lake Providence, Louisiana. The company's D(-) lactic acid started production at commercial scale in June 2008 for use in polylactic acid. Myriant has agreements with Uhde GmbH for engineering, Davy Process Technology for the integration of Myriant's succinic acid process with the Davy butanediol process for the production of bio-based butanediol, and PTT Chemical for the commercialization of Myriant's technology in South East Asia. Myriant is headquartered in Quincy, Massachusetts. Details are available at www.myriant.com.
Sue Hager SVP, Corporate Communications and Government Affairs