Abundance Int'l enters JV to commercialize eco-friendly chemical production

They will build a hundred-ton facility for the production of FDME.

Singapore-incorporated Abundance International Limited and its subsidiary Abundance Investments have entered into a joint venture (JV) agreement with Dalian Boyuan Innovation and Technology (Boyuan) and the Dalian Qinxing New Materials Technology Development Partnership (Qinxing.

The JV will be engaged in the development of technology enabling commercial production of environmentally friendly chemicals, Abundance International stated in an SGX filing.

Abundance Investments will hold 40% of the registered share capital of the JV, whilst Boyuan and Qinxing will hold 40% and 20%, respectively.

In particular, the JV intends to build and own a hundred-ton facility for the commercial-scale production of furan dicarboxylic methyl ester (FDME) from glucose. The glucose will be derived from agriculture waste and non-grain biomass.

This technology was originally developed and patented by the Dalian Institute of Chemical Physics in China.

Boyuan will procure, inter alia, that the licence be issued directly to the JV Company following its establishment; and the fixed assets installed to date will be transferred to the JV,

The JV, meanwhile, will hold a 60% beneficial interest in the initial patent to be granted by the Dalian Institute.

When successful, the JV shall register and own the patent for the technology to produce FDME from agriculture waste on a commercial scale.

The JV company will be incorporated as a liability company, with its business license subject to the approval of the State Administration for Industry and Commerce.

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