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Invista & Plaxica to grow & market lactic acid technology

30 Jul '15

2 min read

Invista's technology and licensing business, Invista Performance Technologies (IPT), and Plaxica, a London-based chemical technologies company focused on the development of technology for the production of low-cost lactic acid from biomass, have entered into a collaboration that is expected to expand accelerate the marketing of Plaxica's technology.

Under the agreement, in which Invista will have an option for an equity stake in Plaxica, Invista will provide Plaxica engineering, technical, and commercial support from its global technology licensing organisation. The two companies will work together to develop and commercialise Plaxica's lactic acid technology, which the companies believe will offer substantial cost and performance benefits to licensees in the polylactic acid and bio-propylene glycol value chains.

Philip Goodier, CEO of Plaxica said, “We are delighted to be working with Invista. This deal gives us access to Invista's considerable expertise in process technology licensing and to their global engineering, commercial, and client support capabilities. We are confident that Plaxica's strong technology base and existing client relationships, combined with Invista's expertise and reputation built over many years of successful licensing in the global polyester industry, will strengthen and accelerate the commercialisation of our technologies.”

Mike Pickens, IPT president said, “Plaxica's technology offers an exciting opportunity to add to our technology licensing portfolio in a growing sector. We are very happy to be collaborating with Plaxica to bring their technology to the market.”

With leading brands including Lycra, Coolmax, Cordura, Stainmaster, and Antron, Invista is one of the world's largest integrated producers of chemical intermediates, polymers, and fibres. (GK)

Fibre2Fashion News Desk - India