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 Business

Home of the world's first biochemical plant

29th June, 2017

ASTANA, Kazakhstan: Malaysia will be home to the world’s first biochemical plant with American participation.

United States-based Verdezyne, a biotechnology company, will ground break its Verde Palm Plant in Johor this July 30, according to a statement by Bioeconomy Corporation (formerly known as Malaysia Biotechnology Corporation).

Covering 20,000 square feet, the plant will use palm oil to produce 10,000 metric tons of Dodecanedioic Acid (diacid) per year. Diacid is a renewable bio-based chemical used in almost everything from automotive parts and toothbrush bristles to cosmetics and fragrances. It is more environmentally friendly and sustainable than fossil fuel-based chemicals.

“This first-of-its-kind bio-based plant showcases Malaysia’s readiness towards becoming one of the leading bioeconomy nations,” said Zainal Azman, senior vice president of Bioeconomy Corporation. “It is an important milestone for the country as bioeconomy plays a key role in Malaysia’s aspiration to become a high-income nation by 2020.”

The announcement of the Verdezyn investment was made on the sidelines of the 3-month EXPO 2017. Innovations in green and bio-based technologies are among highlights at the Malaysia Pavilion which has put up the ‘Green Innovation: Powering Your Future’ Week from June 26-30. The activity brings into focus Malaysia’s aim to turn the biotechnology sector into one of the key economic drivers in the nation, contributing 5% of the nation’s GDP by 2020.

The 5-day event will have talks, product demonstrations and business matching sessions that aim to disseminate information on current science, technology and innovation efforts in Malaysia.

Zainal, who is also director of the event, said most major players in Malaysia’s green and biotechnology sector are represented at the Expo here. They include Rosner Biotech, Free the Seed, iCYCLE Malaysia, Nanopac, Cube Global and Muhibbah Sinergia Resources.

State-run SIRIM Berhad and Yayasan Inovasi Makaysia were also present at the event which was launched by Minister of Science, Technology and Innovafion Datuk Wilfred Madius Tangau.

Meanwhile, in a separate statement, Bioeconomy Corporation announced that Rosner Biotech was among Malaysian companies which signed three memorandum of understanding (MOU) worth USD20 million at the Green Innovation event.

All three MOUs have to do with trade and cooperation in the field of green technology.

Rosner Biotech, an integrated wastewater treatment solution specialist, has appointed Kazakhstan-based MEC LLP as its Kazakhstan and Central Asia representative to distribute Rosner’s technologies. The MOU targets USD20 million of business within three years.

The other two MOUs were signed between iCYCLE Malaysia and a Guangzhou-based company and one from India. The MOUs have a combined worth of USD250,000. iCYCLE aims to introduce its hi-tech recycling system in the Tianhe Districg in China and Cochin city in India.

   
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