16 August 2012 08:36 [Source: ICIS news]
SINGAPORE (ICIS)--Novozymes has developed a fungus that enables the production of malic acid from renewable materials, the Danish industrial enzyme producer said on Thursday.
Malic acid can be converted into 1,4 butanediol (BDO) which in turn could be used to produce a variety of plastics, polymers and resins, the company said in a statement.
“Novozymes is now out-licensing the technology to partners who are interested in producing and commercializing malic acid and derivatives made from renewable raw materials instead of oil,” it said.
The global market for malic acid is valued at around $130m (€105.3m) with a growth rate of 4% per year, according to the company.
The market for BDO and derivatives is around 1.4m tonnes with a value of $2.8bn and a growth rate of 3% per annum, the company added.
Biochemicals could contribute as much as 17% of the global chemical market by 2025, according to Novozymes.
($1 = €0.81)
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