Myriant and Bayegan Group partner to commercialize renewable chemicals
In Massachusetts, Myriant Corporation and Bayegan Group, an international chemical production and trading company headquartered in Turkey, today announced a broad collaboration agreement to commercialize Myriant’s bio-succinic acid in markets across the Middle East, Eastern Europe and Africa.
Under the terms of the agreement, Bayegan has committed to annually purchase a pre-determined amount of Myriant’s bio-succinic acid for supply to customers as outlined. In addition, Myriant has granted exclusive distribution rights of bio-succinic acid to Bayegan in those three area.
The two companies have also agreed to negotiate a potential joint venture to build a bio-succinic acid plant in Turkey subject to certain commercial milestones being met.
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