Myriant, Bayegan commercialize bio-succinic acid

Myriant, Bayegan to commercialize bio-succinic acid

6:31 AM, 27th March 2013
Myriant, Bayegan to commercialize bio-succinic acid

QUINCY, US: Myriant Corporation and Bayegan Group announced a broad collaboration agreement to commercialize Myriant’s bio-succinic acid in markets across the Middle East, Eastern Europe and Africa (Territory). The signed collaboration agreement was exchanged at the 2013 Annual Meeting of the American Fuel and Petrochemical Refiners (AFRA) in San Antonio, Texas, US.

Bayegan has committed to annually purchase a pre-determined amount of Myriant’s bio-succinic acid for supply to customers in the Territory. In addition, Myriant has granted exclusive distribution rights of bio-succinic acid to Bayegan in the Territory. The two companies have also agreed to negotiate a potential joint venture to build a bio-succinic acid plant in Turkey subject to certain commercial milestones being met.

“Increasingly, our customers are seeking high-performing, renewable chemicals, like bio-succinic acid, with the goal of producing sustainable products through eco-friendly processes. Through our partnership with Myriant, Bayegan can reliably deliver an innovative, in-demand product that adds significant value for our customers while potentially driving positive economic growth. We’re delighted to be partnered with Myriant and we look forward to the growth we will experience together,” said Ercument Bayegan, Chairman and CEO, Bayegan.

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