Verdezyne Accessing Malaysia As Location For Its First Biochemical Facility In Asia Pacific Region
Montreal – June 18, 2013 – Carlsbad-based biochemical company Verdezyne, Inc. has entered into a collaboration with Malaysian Biotechnology Corporation (BiotechCorp) in its assessment of Malaysia as the destination for its first biochemical production facility in the Asia Pacific Region. The collaboration is set to accelerate Verdezyne’s process to full fledge commercialization following the success from its pilot plant that was established in 2011.
The collaboration was announced at the 10th Annual World Congress for Industrial Biotechnology in Montreal. Present during the announcement were Verdezyne’s President and Chief Executive Officer; Dr. E. William Radany, and BiotechCorp’s Chief Executive Officer; Dato’ Dr. Mohd Nazlee Kamal.
Verdezyne is a leading biochemical producer that successfully created the first renewable nylon fiber and amongst the first to demonstrate the production of diacids with a variety of feedstocks from vegetable oil. Verdezyne’s rapid achievements since its establishment have attracted backing from British oil giant BP and Dutch biochemicals company Royal DSM.
While Verdezyne has entered into multiple discussions with Malaysia’s palm oil producers; its presence in Malaysia will create cascading opportunities for its potential partners who are planning to venture into the downstream production in the palm oil industry.
“BiotechCorp is committed to ensure further assistance to Verdezyne to recognize the full potential and favorable position of Malaysia’s ecosystem for the Biochemical sector,” said Chief Executive Officer of BiotechCorp, Dato’ Dr. Mohd Nazlee Kamal.
“By positioning Verdezyne in Malaysia’s Bioeconomy Transformation Programme; I firmly believe that further value add could be created for the palm oil sector”, he added.
“We are taking a very bold move in entering uncharted territories,” said Dr. E. William Radany, Chief Executive Officer of Verdezyne. “Nevertheless, Malaysia’s position as one of the largest palm oil producers and its strong drive in the development of the biochemical sector has made it an interesting location to catapult into the world’s largest chemical market, Asia.”