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LG Chem and Archer Daniels Midland (ADM) have announced that they have taken the first steps in a collaboration that will culminate in the construction of a new lactic acid and polylactic acid production plant in the United States
.
The two companies have signed an agreement to establish a new joint venture for this purpose and plan to sign a definitive agreement in the first quarter of next year
.
It is expected that by 2025, a PLA production plant and an LA production plant with an annual capacity of 75,000 tons will be built
.
A global grain processing company, ADM operates crop sourcing facilities in 200 countries around the world and has acquired extensive experience and expertise in glucose production and fermentation technologies
.
ADM CEO Juan Luciano said the partnership with LG Chem will create a new "growth opportunity for solutions based on bio-based materials and increase value for our customers
.
"
LG Chem is increasingly looking to expand its sustainable bio product portfolio
.
The vertical integration provided by the joint venture will ensure the production of high-purity lactic acid on a commercial scale, resulting in a stable supply of raw materials for PLA production
.
The company plans to aggressively enter the bioplastics market based on its PLA production capacity
.
Previously, LG Chem signed a joint development agreement (JDA) with ADM to ensure the mass production of environmentally friendly bioacrylic acid
.
This initial cooperation laid the foundation for the current establishment of the PLA joint factory
.
Based on advanced grain fermentation technology and advanced catalyst manufacturing technology, bioacrylic acid is mainly used to produce environmentally friendly superabsorbent polymers, raw materials for diapers and various hygiene products
.
Hak Cheol Shin, CEO of LG Chem, said: "The joint venture with ADM will be the start of a 'new journey'
.
As a leading company in sustainable development, we will actively seek new ways to contribute to carbon-neutral growth
.
"
