DSM Venturing has participated in a US$20 million financing round in Tianjin Green Bio-Science Company to build China's largest manufacturing plant for Polyhydroxyalkanoates in the Tianjin Economic Development Area.
"The investment in Tianjin Green Bio-Science is a further confirmation of DSM's global venturing strategy, in which China is one of the core regions. Moreover, it shows the company's commitment and dedication to actively promoting China's sustainable development initiatives, as one of the important elements in building a strong business position in China," said Weiming Jiang, president of DSM China. "The transition from petroleum-based materials to bio-based materials is a major global trend. With our expertise in biotechnology and in performance materials DSM is excellently positioned to facilitate this transition."
The plant's construction will commence in the second quarter of 2008, and is expected to start production in early 2009. It will have an annual production capacity of 10,000 tons of PHA.
The investment is in line with DSM's ambitions to develop bio-based performance materials to meet customers' growing needs for improved performance and environmental benefits at competitive costs. PHA offers, in response to the growing market need for eco-friendly solutions, a new biorenewable polymer platform for a broad range of applications from automotive to biomedical and electronics, including multiple forms like fibers, films and foams.
This investment brings the total number of current company participations of DSM Venturing to 20. Venturing forms an integral part of DSM's open innovation approach, focused on teaming up with innovative players all over the world. The company has earmarked up to EUR200 million for venturing investments until 2012. China is one of the core regions in the global investment strategy of DSM Venturing.