PUNE / BERKELEY (CALIFORNIA, US) / MUMBAI / RAJKOT - In a regulatory filing as submitted to the Indian Stock Exchanges, Pune headquartered construction & engineering sector Indian company Praj Industries Ltd said of having partnered and inked a pact with US (Berkley - California) headquartered Lygos Inc., to co-develop advanced lactic acid yeast technology for bio-based products.
In a press-release titled, "Praj and Lygos to Co-develop Advanced Lactic Acid Yeast Technology for Bio-based Products", as attached and enclosed with the regulatory filing as submitted by the company to the Indian Bourses, further read that, Praj Industries Ltd. and Lygos, Inc. have signed a Memorandum of Understanding (MOU) to codevelop Lygos’s proprietary yeast for the production of lactic acid.
Founded in 2011 by leading scientists in the Department of Bioengineering at the University of California, Berkeley, Lygos has developed proprietary technology for producing diverse compounds through combined fermentation and chemical transformation.
The company features a robust pipeline of multi-functional organic acids, health & wellness products, including cannabinoids, that offer compelling performance, purity and supply advantages.
Lygos has created a full-stack biological engineering platform focused on organic acid specialty chemicals and bio-monomers.
Lygos’ sustainable, bio-based chemicals replace expensive, environmentally degrading alternatives from traditional industrial suppliers, enabling customers to create better, safer products with value-added performance.
For more information, visit www.lygos.com and follow @LygosBiotech.
The release further read that, As part of this MOU, Lygos will provide its proprietary yeast platform to Praj for jointly developing into various solutions for commercial applications.
Praj has already developed and offers bacterial fermentation technology to produce lactic acid and downstream products from sugary feedstock.
Lactic acid is also used in food and beverages, in cleaning agents as well as in the electronic industry.
The global lactic acid market size is estimated at around $1 Bln USD (2019).
Lygos will provide its innovative and high-performance technology, LP1 Ultra™ Yeast Platform and Carbon Sequestration Superhighway™, which is well suited to produce acid compounds.
Praj will assemble other segments of technology backed up by its expertise in process development, optimization, design scale-up and will further integrate lactic acid as a source material in to making Bioplastic, called as Polylactic Acid (PLA).
Demand for PLA acid is ~ 200, 000 tons/year, which is expected to increase substantially in the near future.
PLA is an appropriate solution to replace single use plastics and reduce the burden on the waste disposal system.
Due to its unique characteristics, PLA offers an improved replacement for many applications.
Rising consumer awareness with respect to the need for recyclability, green packaging, and sustainability is driving significant demand globally.
Unlike conventional plastic, PLA does not take decades to degrade, and as such, reduces adverse environmental impact.
Both companies will jointly pursue identified commercial opportunities globally to establish a leading position in compostable polymers.
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