P&G Sells Intellectual Property
Posted: October 8, 2007
Meredian, Inc. announced its acquisition of an extensive intellectual property portfolio from Procter & Gamble relating to PHA technology. Meredian will use the technology to manufacture new biopolymers using renewable resources, further reducing the global dependence on petroleum products in the production of plastics.
"As part of our open innovation strategy, P&G was seeking an enthusiastic company that could efficiently commercialize our intellectual property on polymers. We selected Meredian because of their dedication to biopolymers and strong ability to take our development work to the next level," said Harry Coleman, director of P&G's external business development.
Meredian expects to begin construction in 2008 on the first of four planned production facilities that will produce over 600 million pounds of biopolymers annually.
"We are very pleased and excited to bring leading-edge, green technology to the marketplace," said S. Blake Lindsey, president of Meredian, Inc. "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."