Green Earth Institute (GEI), an investee of PIEF, entered into an agreement with Air Water Inc. (Air Water) concerning research and development into the production of bio-succinic acid for the promotion of commercial production.
Succinic acid is a chemical that is used in a wide range of products in many different fields, including the seasoning of umami in the food field, bath salts in personal care, and pH adjusters in the cosmetics and pharmaceutical areas. The demand for succinic acid as a raw material for biodegradable plastics is increasing in response to growing global environmental awareness. The demand is expected to increase year by year. In recent years its global market has grown to approximately $150 million, with CAGR of about 6 ~ 7% through 2027. Since the current production of the succinic acid still depends on petrochemical manufacturing processes using petroleum as a raw material, it is expected to establish the expand of succinic acid produced by bioprocessing (“bio-succinic acid”).
Since GEI received an investment from Air Water in June 2021, discussion for the commercial production of bio-succinic acid has been taking place. The agreement with Air Water has marked the start of research and development of the microorganisms improvement and manufacturing process necessary for commercial production. Under this R&D agreement, GEI, together with the Research Institute of Innovative Technologies for the Earth (RITE), will promote the development of highly productive microorganisms and optimal fermentation processes, with the aim of reducing the cost of bio-succinic acid production. Through the group company of Air Water Performance Chemical Inc, Japan’s top manufacturer of succinic acid, Air Water will work together with GEI to establish environmentally friendly production and process technologies for bio-succinic acid as a new product lineup, and promote its commercialization.
GEI is engaged in the biotechnology of a variety of different chemicals under its mission, “Fostering green technology and walking with the earth” and will contribute to the realization of a decarbonized society by promoting the practical application of bio-derived products including succinic acid through this alliance with Air Water.
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Green Earth Institute Press Release