CARLSBAD, Calif./BADHOEVEDORP, The Netherlands — June 9, 2015 —Verdezyne Inc., a privately-held industrial biotechnology company focused on producing renewable chemicals, has reached an agreement with Will & Co, a sales and marketing firm for raw materials, semi-finished products, additives, and pigments, for distribution of Verdezyne’s first commercial product. The exclusive agreement is for sales and distribution of BIOLON™ DDDA (biobased dodecanedioic acid or “DC12”) in Europe, one of the world’s largest chemical markets. BIOLON DDDA will be produced at Verdezyne’s commercial-scale plant in Malaysia. The agreement secures off-take for over 25 percent of the expected plant capacity.
Verdezyne’s BIOLON DDDA is produced more sustainably than traditional petroleum-derived intermediate chemicals and will be used to make engineering polymer resins, automotive parts, toothbrush bristles, cosmetics, fragrances, and more.
“This agreement with Will & Co is an important milestone for us because it reflects the strong demand for renewable chemicals and the demonstrated high quality of our product,” said E. William Radany, Ph.D., President and CEO of Verdezyne. “With a focus on serving customers, Will & Co is the perfect partner for us and we are proud to be associated with them. Having forged this mutually beneficial distribution partnership for a significant portion of our production capacity, we are even more excited to start producing BIOLON DDDA as soon as possible.”
Verdezyne’s plant, expected to open in 2017, is anticipated to have the capacity to produce over 10,000 metric tons of diacids annually, including BIOLON DDDA, drawing on Malaysia’s diverse and abundant base of plant-derived feedstocks.
“For some time, our customers have been asking us for an alternative to petroleum-derived chemicals, and Verdezyne’s BIOLON DDDA fits the bill perfectly,” commented Jacques van Lindonk, Managing Director at Will & Co. “We are excited to finally be able to offer them a biobased, versatile, sustainable chemical for such a wide variety of uses, at competitive prices. It is Will & Co’s focus to expand the product portfolio with biobased products, and through our cooperation with Verdezyne we take an important step forward.”
Posted June 9, 2015