Total and Corbion Announce Bioplastics Joint Venture
Total and Corbion recently announced they will collaborate to develop bioplastics by creating a 50/50 joint venture.
Total and Corbion recently announced they will collaborate to develop bioplastics by creating a 50/50 joint venture to produce and market polylactic (PLA) polymers. The two partners plan to build a PLA polymerization plant with a capacity of 75,000 tons per year at Corbion’s site in Thailand, which already has a lactide (PLA monomer) production unit that will become part of the joint venture. Corbion will supply the lactic acid necessary for the production of the PLA and the lactide. The new company will be based in the Netherlands and will launch operations in the first quarter of 2017, subject to regulatory approvals.
“I’m very pleased with this joint venture, which aims to become a major player in the growing bioplastics market,” said Bernard Pinatel, president of Total, Refining and Chemicals business. “This investment is consistent with our One Total ambition of expanding in biofuels and bioplastics, in addition to our more traditional oil- and gas-based products. Corbion’s unique position in the lactic acid and biopolymers value chain makes it a natural choice for Total. The joint venture will allow us to supply an innovative material that is 100% renewable and biodegradable and that responds to sustainability concerns.”
“PLA is one of the first renewable, biodegradable polymers able to compete with existing polymers,” said Tjerk de Ruiter, CEO of Corbion. “The joint venture, which will combine Total’s technical and marketing knowledge and leading position in polymers with Corbion’s expertise in lactic acid and biopolymers, will enable us to supply innovative products and will accelerate market acceptance.”