LG Chem, a global chemical company, and ADM, the nutrition and biosolutions giant, last month announced the formation of two joint ventures in Decatur to make lactic acid and polylactic acid to meet growing demand for a variety of plant-based products, including bioplastics.
The first venture, GreenWise Lactic, will produce up to 150,000 tons of high-purity corn-based lactic acid a year. GreenWise will be majority owned by Chicago-based ADM, which will contribute fermentation capacity from its existing bioproducts facility in Decatur.
The second venture, LG Chem Illinois Biochem, will be majority held by LG Chem and will build upon the South Korean firm’s expertise in bioplastics to produce around 75,000 tons of polylactic acid per year, using product from GreenWise.
“Sustainability is one of the enduring global trends that is powering ADM’s strategy and growth,” ADM Chief Executive Juan Luciano said in a statement. “With these two new joint ventures, we’re planning to take the next growth step, greatly expanding our ability to meet growing demand for plant-based solutions.”
The two joint ventures will support more than 125 jobs in the Decatur region. Final investment decisions will be made in 2023, with construction expected to start later that year and production beginning in late 2025 or early 2026.
Meet Economic Driver: Smita Shah, Founder & CEO, SPAAN Tech Inc.
Welcome to our latest installment of our Economic Drivers series profiling AANHPI business leaders for May’s Asian American, Native Hawaiian, and Pacific Islander Heritage Month! We’re deeply honored to spotlight Founder & CEO of SPAAN Tech Inc. and Illinois EDC Board Member Smita Shah, who is a proud lifelong Illinoisan. As you’ll quickly learn, her story is one worth your attention.
Meet Economic Driver: Gil Quiniones, President & CEO, ComEd
We’re excited to continue on in our Economic Drivers series by highlighting ComEd President & CEO and Illinois EDC Board Member Gil Quiniones. It’s the final week of May—Asian American, Native Hawaiian, and Pacific Islander (AANHPI) Heritage Month—so take a minute to check out our latest Data Detective, too, for a deep dive into AANHPI immigration into Illinois!
Behind the Numbers: What Illinois’ Quantum Talent Data Reveals
The Illinois EDC Economic Research Center recently collaborated with industry experts at the Illinois Quantum and Microelectronics Park (IQMP), the Chicago Quantum Exchange (CQE), and the Illinois Science & Technology Coalition (ISTC) on ISTC’s most recent Index Insights report, “Mapping Illinois’ Quantum Talent Pipeline: A Framework for Defining Quantum-Relevant Degrees and Certificates,” released May 21,…
