Lummus reinforces commitment to biopolymer PHA commercialisation
Published by Poppy Clements,
Assistant Editor
Hydrocarbon Engineering,
This strategic investment marks a significant milestone in commercialisation of PHA, a biodegradable and environmentally safe alternative to petroleum-based plastics that can help mitigate the accelerating health concerns associated with persistent plastics and microplastics in the environment and support the development of a circular economy.
Since signing a binding Joint Development and Commercial Cooperation Agreement in September 2023, Lummus and RWDC have made substantial progress in their shared mission to accelerate worldwide adoption of PHA and prepare the technology for global licencing. The engineering phase of RWDC's first commercial-scale PHA facility is nearly complete, with detailed engineering and preconstruction activities set to be finalised in the coming months. Lummus' lead investment in RWDC's convertible bond round will enable completion of these final stages, targeting groundbreaking of the facility in early 2025.
"Lummus' investment in RWDC is a testament to our unwavering commitment to commercialising PHA and advancing the circular economy of the polymer industry," said Leon de Bruyn, President and CEO, Lummus Technology. "By combining our expertise in process technology with RWDC's innovative PHA production capabilities, we are poised to make a significant impact on the world's transition to sustainable and more carbon neutral materials."
"Lummus' support as the lead investor in our convertible bond round is a major step forward for RWDC and the future of PHA," said Dr. Daniel Carraway, CEO, RWDC. "This investment not only accelerates our journey towards construction of our first commercial-scale PHA production facility but also validates the immense potential of our technology in addressing the global challenge of plastic pollution.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/06062024/lummus-reinforces-commitment-to-biopolymer-pha-commercialisation/
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