Published: Wednesday June 20, 2012 MYT 12:16:00 PM
US-based Gevo Inc. to invest RM1.65b in Kertih BioPolymer Park
KUALA LUMPUR: The US-based biochemical company Gevo Inc., which develops bio-based alternatives to petroleum-based products, will invest RM1.65bil in the Kertih BioPolymer Park in Terengganu.
Malaysia's Biotech Corporation said on Wednesday Gevo would build the world's first bioisobutanol from biomass manufacturing plant in Kerteh.
"The plant will be a breakthrough as, bioisobutanol will be commercially produced from woodchips and oil palm biomass for the first time," it said.
Gevo announced its investment plan during an exchange of documents ceremony held in conjunction with BIO International Convention 2012 in Boston on Tuesday.
Isobutanol, with a global market of RM14bil per annum, is traditionally produced from fossil fuels but advancement in industrial biotechnology has shifted production focus towards fermentation from renewable and sustainable carbohydrates.
"Slated for full operation by 2015, the 60,000 tonne bioisobutanol production plant will be constructed in phases on a 40-ha site. It is also expected to generate about RM5bil of cumulative gross national income by 2020, and provide about 200 jobs," said Biotech Corp.