Innovation involving green chemistry is getting plenty of investment and coverage these days, but it's not so usual to see non-Western companies making big commitments. But just the other day Thailand's PTT Chemical, a major producer of petrochemicals, made a $60m investment in US-based Myriant Technologies, which specialises in enzymatic production of speciality chemicals from low-cost cellulosic feedstocks.
Source: PTT Chemical
PTT Chemical, which was shortlisted last year in the ICIS Innovation Awards
, for its development of green ABS polymer using natural rubber rather than synthetic, has a stated agenda of sustainable growth. It will form a joint venture with Myriant to drive the development of more green chemicals using the abundant bio-based materials available in Thailand. Myriant will in 2012 start up a 14,000 tonnes/year bio-succinic acid plant in Louisiana, US.
You can read more on my colleague Doris de Guzman's ICIS Green Chemicals blog.