Meredian Acquires Biopolymer Technology from Procter & Gamble

4 October 2007

Meredian, Inc. a privately held Georgia corporation, has acquired an extensive intellectual property portfolio from The Procter & Gamble Company relating to polyhydroxyalkanoate (PHA) technology. Meredian will use the technology to manufacture new biopolymers using renewable resources.

Meredian biopolymers combined with our existing DaniMer and Seluma biopolymers will enable us to provide synergies within these technology platforms and will result in one of the world's most versatile biopolymer product lines.

—S. Blake Lindsey, President of Meredian

Meredian expects to begin construction in 2008 on the first of four planned production facilities; the first will be located in the Southeastern United States. Meredian plans to produce more than 600 million pounds of biopolymers annually.

Meredian Inc. was formed this year following the start of the DaniMer Scientific business in 2004 by Dr. Daniel Carraway. The company has a modified PLA-based product line. It recently launched Seluma Technologies, which offers a proprietary line of polycondensation-based biopolymers. With the addition of Meredian PHA biopolymers, the company can offer a comprehensive selection of biopolymers.