Verdezyne receives investment from Sime Darby for renewable chemical production

Reputed and well established conglomerate giant Sime Darby Berhad has recently announced its investment of $30 million in Verdezyne, which is estimated to 30% stake in this renewable chemical company based in San Diego. The deal has been finalized in the recent trip of President Obama to Malaysia.

The company is essentially focused on the conversion of non-traditional and traditional palm-based commodities into higher value products in a new unit, Sime Darby Renewables that will work under Sime Darby Plantation. On the other hand, Verdezyne has decided to make use of this investment fund from Sime into development and research in US.

At the same time, both companies will assist each other in the development of new facility for the conversion of palm oil waste into industrial chemicals of higher value.

As per the reports of http://greenchemicalsblog.com/2014/04/28/sime-darby-invests-in-verdezyne/, Sime Darby has become the largest investor in Verdezyne along with Royal DSM, BP Alternative Energy, Monitor Ventures, OVP Venture Partners and a different global life sciences group.

It should be noted here that Verdezyne gained mammoth success in the production of renewable chemicals after it started operations in 2005, with manufacturing hub choice centered in Malaysia. This company has gained BioNexus status in September 2013 due to its manufacturing units in Malaysia, with future production of more than 13000 metric tons.