Under the agreement, Sojitz and Myriant will collaborate in the sales and marketing of biobased succinic acid exclusively in the territory for applications such as plasticizers, polymers, urethanes and solvents.
Myriant COO Cenan Ozmeral said Sojitz has demonstrated a clear commitment to the market, having invested already in a wide array of products in the field of biobased chemicals.
Myriant chairman and CEO Stephen Gatto said the combination of Sojitz’s sales and marketing as well as their intent to expand the company’s production capacity were the twin catalysts for this agreement.
Sojitz Functional Materials and Fine Chemicals Department general manager Izutani said the company’s plan is to set up a commercial biobased derivatives plant that it expect to come online in 2015, which will consume 150 million pounds of Myriant’s biobased succinic acid.
