Myriant Technologies

About Myriant Technologies

Myriant Technologies, operating as a subsidiary of PTT Global Chemical Public Company Limited, specialized in manufacturing bio-based chemical intermediates from renewable feedstocks. The company was originally formed as a limited liability company on April 3, 2009, and converted into a corporation named Myriant Corp. on January 10, 2011. It was established to develop the biobased chemicals business of its predecessor, BioEnergy International LLC. In August 2018, Myriant changed its name to GC Innovation America, reflecting a new innovation-focused vision for its parent company in North America.

The company's core business revolved around producing high-value, bio-based chemicals that serve as alternatives to petroleum-derived products. Myriant's proprietary technology platform utilized modified E. coli strains in a fermentation process to produce chemicals like bio-succinic acid and lactic acid from non-food, renewable feedstocks such as cellulosic sugars and grain sorghum. This process was designed to be cost-competitive with petroleum-based production without relying on government subsidies. The primary product, bio-succinic acid, is chemically identical to its petroleum-based counterpart and serves as a drop-in replacement in numerous applications, including plastics, pigments, pharmaceuticals, and metal plating. It can also replace other chemicals like phthalic anhydride and adipic acid. The company's business model focused on the manufacturing and sale of these bio-based chemicals to industrial clients, aiming to provide long-term price stability by using abundant, low-cost feedstocks.

A significant milestone was the startup of its flagship bio-succinic acid plant in Lake Providence, Louisiana, in 2013, which was the first commercial-scale facility of its kind in North America with a capacity of 30 million pounds per year. This $80 million project was partly funded by a $50 million grant from the U.S. Department of Energy. The company also entered into strategic collaborations, including an agreement with PTT Chemical for a $60 million equity investment and a joint venture to deploy its technology in Southeast Asia. However, the Louisiana plant was idled in 2016 and later acquired by Stepan Company in 2021. Following this, Myriant, under its new name GC Innovation America, restructured its operations to focus on research and development, technology scouting, and corporate venture capital for its parent company.