KOREA (SOUTH): SK Terminates license agreement to utilize Metex technology for new bio-PDO project
SK Chemicals has decided to terminate a license agreement with Metabolic Explorer (Metex) and discontinue an industrialization project for a bio-based 1,3-propanediol (PDO) facility planned to be built at SK's site in Ulsan, South Korea.
The proposed bio-PDO plant was to be based on Metex technology, which optimizes the fermentation of renewable feedstock crude glycerin. The two companies earlier this year decided to further collaborate on the project to ensure the optimal scope and evaluate the value generated by the first investment to industrialize the bio-based PDO unit.
All exploitation rights associated with the technology revert to Metex on termination; accordingly, following termination, all options to commercialize its technology are again available.
Metex said it was greatly surprised by SK's decision, but noted that "this temporary setback in the PDO industrialization timetable does not undermine the company's development strategy for its programs as a whole."
Source: Weekly “PetroChemical News”, Durham, NC, USA; 16 Nov 2015
(Syed Rashid Ali, Karachi, Pakistan)
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