Start-up activities are underway at Myriant's bio-succinic acid plant in Lake Providence, Louisiana. Our plant will be the largest bio-succinic acid production facility in the United States. It is capable of making succinic acid from multiple renewable feedstocks and it has an annual nameplate production capacity of 30 million pounds.
Together with our global alliance partner, ThyssenKrupp Uhde, Myriant scaled and produced on-spec bio-succinic acid at Uhde's biotech commercial validation facility in Leuna, Germany. The production process meets targets for commercial yield and product quality.
Our bio-succinic acid plant in Lake Providence, LA was funded in part by a $50 million cost sharing grant from the U.S. Department of Energy. In June 2012, Myriant became the first renewable chemicals company to receive a loan guarantee from the United States Department of Agriculture (USDA) totaling $25M.
Myriant's investment in Lake Providence, LA created more than 50 direct jobs, more than 450 construction jobs and hundreds of indirect jobs, directly contributing to economic development in the area.
Our partner, Johnson Matthey - Davy Technologies (JM Davy), offers process and performance guarantees to produce commercial grade bio-BDO, bio-THF and bio-GBL from Myriant's bio-succinic acid. These bio-based chemicals are equivalent to the petrochemical material that is currently produced in commercial plants but instead, they are produced with Myriant's bio-succinic acid and at a competitive cost level.