Biorefinery, Company initiatives, Feedstock, Investments, Partnership

Sime Darby invests in Verdezyne

 

President Barack Obama, standing right, and Malaysian Prime Minister Najib Razak, standing left, applaud as Bill Radany, President & CEO, Verdezyne, right, and  Tan Sri Dato' Seri Mohd Bakke Salleh, President & Group Chief Executive, Sime Darby Berhad, left, participate in the signing of major commercial agreements with American businesses at the Ritz-Carlton in Kuala Lumpur, Malaysia, Monday, April 28, 2014. (AP Photo/Carolyn Kaster)

President Barack Obama, standing right, and Malaysian Prime Minister Najib Razak, standing left, applaud as Bill Radany, President & CEO, Verdezyne, right, and Tan Sri Dato’ Seri Mohd Bakke Salleh, President & Group Chief Executive, Sime Darby Berhad, left, participate in the signing of major commercial agreements with American businesses at the Ritz-Carlton in Kuala Lumpur, Malaysia, Monday, April 28, 2014. (AP Photo/Carolyn Kaster)

During President Obama’s trip to Malaysia this weekend, the country’s conglomerate giant, Sime Darby Berhad, announced that it will take a 30% stake, valued at $30 million, in San Diego-based renewable chemical company, Verdezyne.

Sime Darby Renewables, a new unit under Sime Darby Plantation, will spearhead this initiative essentially focusing on converting traditional and non-traditional palm-based commodities into products of higher value.

Verdezyne said it will use this investment to fund research and development in the United States.  The two companies will cooperate on developing a new facility that will convert palm oil waste into valuable industrial chemicals.

Sime Darby plans to emerge as the single largest investor in Verdezyne, together with existing investors BP Alternative Energy, Royal DSM, a global life sciences group; OVP Venture Partners and Monitor Ventures. According to Sime Darby, the company has healthy financial prospects.

The blog recently posted Verdezyne’s milestone production. Verdezyne began operations in 2005 and has chosen Malaysia as its manufacturing hub which motivated them to obtain the BioNexus status in September 2013.

Verdezyne’s planned first commercial plant in Malaysia will have an annual capacity in excess of 13,000 metric tons, and is expected to generate approximately 140 knowledge workers in the fields of R&D and engineering.

About Doris de Guzman

Will Green Chemistry save the world or is it hype? Doris de Guzman examines alternative processing, new technology, R&D and other sustainability initiatives aimed at preventing pollution; replacing ingredients; and using renewable feedstocks in Green Chemistry. She has been covering the oleochemicals market for 12 years and spread her beat to inorganics, biofuels and green chemistry.

Discussion

Trackbacks/Pingbacks

  1. Pingback: Verdezyne Gets $48M to Advance Industrial Biotechnology in Malaysia | Xconomy - April 29, 2014

  2. Pingback: Sime Darby invests in Verdezyne | ITERG - Chimi... - April 29, 2014

Your thoughts?

ADVERTISEMENT

TECNON ORBICHEM LAUNCHES BIO-MATERIALS SERVICE



ARCHIVES

Enter email address and receive notifications of new posts by email.

%d bloggers like this: