Verdezyne Granted BioNexus Status By Malaysian Biotechnology Corp.
Verdezyne announced in June that it would set up a biochemical production facility in Malaysia, where it plans to use palm oil as its feedstock for commercial-scale production of biobased adipic acid (See " Verdezyne Teams With BiotechCorp To Set Up Asia Pacific Biochemical Production," TextileWorld.com, June 25, 2013). BioNexus status is awarded to qualified international and Malaysian biotechnology enterprises that are conducting value-added biotechnology and/or life sciences activities. The award includes financial incentives, grants and other support to facilitate development.
"We are honored to receive BioNexus Status from Malaysian BiotechCorp," said Verdezyne President and CEO E. William Radany, Ph.D. "This status confers a wide array of support and assistance which will accelerate our goal of beginning construction of our first plant to produce renewable chemicals from vegetable oil feedstocks."
September 24, 2013