Invista plans to market a technology for the production of low-cost lactic acid from biomass, developed by specialist company Plaxica. Both companies agreed on a cooperation and possible aqcuisition of Palxica stakes by Invista.
Wilton/United Kingdom – Under the agreement, in which Invista will have an option for an equity stake in Plaxica, the company will provide Plaxica engineering, technical and commercial support from its global technology licensing organization. The two companies will work together to develop and commercialize Plaxica’s lactic acid technology, which the companies believe will offer substantial cost and performance benefits to licensees in the polylactic acid and bio-propylene glycol value chains.
“This deal gives us access to Invista’s considerable expertise in process technology licensing and to their global engineering, commercial and client support capabilities. We are confident that Plaxica’s strong technology base and existing client relationships, combined with Invista’s expertise and reputation built over many years of successful licensing in the global polyester industry, will strengthen and accelerate the commercialization of our technologies,” said Philip Goodier, CEO of Plaxica.
“Plaxica’s technology offers an exciting opportunity to add to our technology licensing portfolio in a growing sector,” said Mike Pickens, IPT president. “We are very happy to be collaborating with Plaxica to bring their technology to the market.”