Verdezyne Raises Funds From Malaysia | Chemical & Engineering News
Volume 92 Issue 18 | p. 14 | Concentrates
Issue Date: May 5, 2014

Verdezyne Raises Funds From Malaysia

Department: Business
Keywords: biobased chemicals, industrial biotechnology, palm oil, Malaysia
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President Barack Obama and Malaysian Prime Minister Dato’ Sri Najib Razak watched a contract signing by executives from Verdezyne and Sime Darby in Kuala Lumpur.
Credit: Verdezyne
Photo of a signing ceremony for an investment in Verdezyne.
 
President Barack Obama and Malaysian Prime Minister Dato’ Sri Najib Razak watched a contract signing by executives from Verdezyne and Sime Darby in Kuala Lumpur.
Credit: Verdezyne

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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