Elevance Renewable Sciences, Inc., a high-growth specialty chemicals company that creates novel specialty chemicals from natural oils, has entered a new collaboration with Genting Plantations Berhad through Genting Integrated Biorefinery Sdn Bhd (GIB), to be located in the Palm Oil Industrial Cluster (POIC) in Lahad Datu, Sabah, Malaysia.
The 25:75 collaboration between Elevance and Genting Plantations Berhad will build a 240,000 MT metathesis biorefinery based on Elevance’s proprietary metathesis technology, and will produce renewable, high-performance olefins and specialty chemicals that can be used in multiple end-product applications, including lubricants, surfactants and detergents.
As part of the collaboration agreement, GIB has agreed to pay Elevance license and design fees, and Elevance will provide intellectual property rights, knowledge transfer, and technical and consulting services. Elevance will also be exclusively responsible for the sale of all specialty chemicals that are produced at the biorefinery.
The Elevance metathesis biorefinery produces multiple high-value chemical streams similar to petroleum-based refineries. Elevance’s low-pressure, low-temperature process uses Nobel Prize-winning innovations in metathesis catalysis that consume significantly less energy and reduce greenhouse gas (GHG) emissions by 50% compared to petrochemical technologies.
A highly efficient, selective catalyst is used to break down natural oils and recombine fragments, resulting in a process with lower source pollution, production costs and capital expenditures than petrochemical refineries.
Genting Plantations, a 54.6%-owned subsidiary of Genting Berhad, commenced operations in 1980. It has a landbank of about 66,000 hectares in Malaysia and some 180,000 hectares in Indonesia held through joint ventures. It owns seven oil mills in Malaysia and two in Indonesia, with a total milling capacity of 405 tonnes per hour. Genting Plantations has also diversified into property development to unlock the value of its strategically located landbank and has invested significantly in biotechnology in a major effort to apply genomics to increase crop productivity and sustainability.