LG Chem has signed a memorandum of understanding (MoU) with nutrition and biosolution leader ADM to expand production of Lactic Acid and Polylactic Acid. The two companies will launch a joint venture in early 2022 that would build, own and operate a US-based facility to produce high-purity corn-based lactic acid on a commercial scale.
The MoU helps to explore US-based production of lactic acid to meet growing demand for a wide variety of plant-based products, including bioplastics.
The global demand for lactic acid which is used broadly in food, feed and cosmetics industry is increasing.
The major expansions and deals by ADM are mentioned below:
July 2021: For the growth of protein platform, ADM has agreed to acquire Sojaprotein. Serbia-based Sojaprotein offers a wide array of non-GMO vegetable protein ingredients. Sojaprotein products are available in more than 65 countries.
May 2021: For the development of renewable products, ADM plans to build North Dakotas first-ever dedicated soybean crushing plant and refinery. The company invests approximately $350 million for state-of-the-art crush and refining complex.
Oct 2020: The leading plant-based polymers producer ADM announced partnership with Spiber Inc. to expand the production of Spibers innovative Brewed Protein polymers for use in apparel and other consumer products.
May 2020: The worlds leading beef producer Marfrig with Archer Daniels Midland (ADM) announced to form a joint venture PlantPlus Foods. The JV helps to sale of plant-based food products across South American and North American markets.
January 2020: ADM announced that it had completed the acquisition of Yerbalatina Phytoactives, a pioneering natural plant-based extracts and ingredients manufacturer. Based in Brazil, Yerbalatina uses proprietary cool-drying technology to transform fruits, vegetables and other plants such as acerola, acai, guarana and green coffee into a wide variety of extracts and ingredients for customers in the food, beverage and health industries.
Archer Daniels Midland is a leading food processing company, headquartered in Chicago, USA. ADM is one of the worlds largest agricultural processors and food ingredient providers, with approximately 32,000 employees serving customers in more than 170 countries.
ADM has 450 crop procurement locations, 270 food and feed ingredient manufacturing facilities and the worlds premier crop transportation network, it connect harvest to the home, making products for food, animal feed, industrial and energy uses.