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Business
Verdezyne Raises Funds From Malaysia
by Melody M. Bomgardner
May 5, 2014
| A version of this story appeared in
Volume 92, Issue 18
Industrial biotech firm Verdezyne will receive $48 million from investors led by Malaysian conglomerate Sime Darby Berhad. BP and DSM are also among the investors. Verdezyne engineers yeast to produce biobased chemicals. At a press event in Malaysia, CEO E. William Radany told reporters that the company has chosen Malaysia to build a plant to make the nylon intermediate dodecanedioic acid out of a palm oil by-product. He said the facility will produce 30 million lb per year, about 30% of current world demand.
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