Web Date: March 6, 2008
DSM Invests In Chinese Biomaterials
DSM's corporate venturing unit has joined in a $20 million round of financing in the Chinese firm Tianjin Green Bio-Science (TGBS). Proceeds are earmarked for construction of a plant in the Tianjin Economic Development Area. The plant is expected to be China's largest producer of fermentation-derived polyhydroxyalkanoates (PHA).
In parallel with the investment, DSM and TGBS will cooperate in creating a new business in biology-based performance materials based on PHA. Considered biodegradable, PHA can be used in applications ranging from automotive to biomedical to electronics, and the compound can be converted into forms such as fibers, films, and foams.
Lu Weichuan, general manager of TGBS, says the company "has reached a leadership position within China for the production, extraction, processing, and application of PHA. In addition to its financial investment in this partnership, DSM will also bring its international experience in life sciences and materials science. This cooperation will definitely speed up our growth and production of world-class biorenewable plastic products."
Construction on the 10,000-metric-ton-per-year plant will start this spring, with production expected in early 2009.
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