Myriant Technologies Finds $60M

1/24/11

Myriant Technologies, a Quincy, MA-based developer of biochemicals, has raised $60 million in equity financing from Thailand’s PTT Chemical Public Company, according to a press release. This year Myriant plans to begin construction on plant in Port of Lake Province, LA, where it will produce bio-based succinic acid. Myriant CEO Stephen Gatto told me in July that his company was aiming to raise $60 million from new and existing investors. The firm’s previous backers include the Stamford, CT, hedge funds Plainfield Asset Management and Camulos Capital, Houston-based NGP Capital Resources, and Itera, a global holding company.

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