LG Chem, a global chemical company, and ADM, the nutrition and biosolutions giant, last month announced the formation of two joint ventures in Decatur to make lactic acid and polylactic acid to meet growing demand for a variety of plant-based products, including bioplastics.
The first venture, GreenWise Lactic, will produce up to 150,000 tons of high-purity corn-based lactic acid a year. GreenWise will be majority owned by Chicago-based ADM, which will contribute fermentation capacity from its existing bioproducts facility in Decatur.
The second venture, LG Chem Illinois Biochem, will be majority held by LG Chem and will build upon the South Korean firm’s expertise in bioplastics to produce around 75,000 tons of polylactic acid per year, using product from GreenWise.
“Sustainability is one of the enduring global trends that is powering ADM’s strategy and growth,” ADM Chief Executive Juan Luciano said in a statement. “With these two new joint ventures, we’re planning to take the next growth step, greatly expanding our ability to meet growing demand for plant-based solutions.”
The two joint ventures will support more than 125 jobs in the Decatur region. Final investment decisions will be made in 2023, with construction expected to start later that year and production beginning in late 2025 or early 2026.
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