Japan's Mitsubishi Chemical Corp and Thailand's PTT Public Company Limited, have agreed to study the development of bio-polybutylene succinate (a bio-degradable polymer) made from biomass resources. The two will jointly conduct a study for business development of GS Pla and bio-succinic acid. They will jointly begin market research and complete the feasibility study for establishing a joint venture by the end of June, 2010.
Mitsubishi produces GS Pla, its trademark for polybutylene succinate, a bio-degradable polymer made from petro-based succinic acid in Japan and markets it worldwide. MCC has developed an original process to produce succinic acid made from biomass resources ("bio-succinic acid"), utilizing its know-how in biotechnology, and has been studying the development of GS Pla made from the bio-succinic acid. PTT is the largest public company in Thailand engaging in businesses such as natural gas field developments, oil refinery, and petrochemicals. In line with Thai government policies, PTT has been heavily involved in the development of bio-related businesses such as biofuels, and bio-based polymers.