{"id":149378,"date":"2024-08-14T07:23:00","date_gmt":"2024-08-14T05:23:00","guid":{"rendered":"https:\/\/renewable-carbon.eu\/news\/?p=149378"},"modified":"2024-08-13T12:43:46","modified_gmt":"2024-08-13T10:43:46","slug":"adm-lg-chem-announce-that-lactic-acid-polylactic-acid-projects-will-not-move-forward","status":"publish","type":"post","link":"https:\/\/renewable-carbon.eu\/news\/adm-lg-chem-announce-that-lactic-acid-polylactic-acid-projects-will-not-move-forward\/","title":{"rendered":"ADM, LG Chem Announce That Lactic Acid, Polylactic Acid Projects Will Not Move Forward"},"content":{"rendered":"\n\n\n<p><strong>ADM (NYSE: ADM) and LG Chem announced today that their previously announced projects for the production of lactic and polylactic acid will not move forward.<\/strong><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"850\" height=\"546\" src=\"https:\/\/renewable-carbon.eu\/news\/media\/2024\/08\/ADM-LG_i.jpg\" alt=\"LG Chem and ADM (Archer Daniels Midland) signed an agreement for PLA production in Illinois in August 2022\" class=\"wp-image-149382\" style=\"aspect-ratio:1.5567765567765568;width:636px;height:auto\" srcset=\"https:\/\/renewable-carbon.eu\/news\/media\/2024\/08\/ADM-LG_i.jpg 850w, https:\/\/renewable-carbon.eu\/news\/media\/2024\/08\/ADM-LG_i-300x193.jpg 300w, https:\/\/renewable-carbon.eu\/news\/media\/2024\/08\/ADM-LG_i-150x96.jpg 150w, https:\/\/renewable-carbon.eu\/news\/media\/2024\/08\/ADM-LG_i-768x493.jpg 768w, https:\/\/renewable-carbon.eu\/news\/media\/2024\/08\/ADM-LG_i-400x257.jpg 400w, https:\/\/renewable-carbon.eu\/news\/media\/2024\/08\/ADM-LG_i-380x245.jpg 380w\" sizes=\"auto, (max-width: 850px) 100vw, 850px\" \/><figcaption class=\"wp-element-caption\">LG Chem and ADM (Archer Daniels Midland) signed an agreement for PLA production in Illinois in August 2022 \u00a9 LG Chem<\/figcaption><\/figure><\/div>\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cSince we originally announced our two joint ventures with LG Chem for lactic and polylactic acid in 2022, construction costs have skyrocketed,\u201d said <strong>Chris Cuddy, president of ADM\u2019s Carbohydrate Solutions business.<\/strong> \u201cWe looked at a variety of options, but when the time came to make final investment decisions, it had become clear that these projects no longer represented a prudent use of our investors\u2019 capital that would meet our returns objectives. ADM remains committed to leading in the decarbonization of the industries in which we participate, and we continue to expand our biosolutions portfolio to meet growing demand for sustainably sourced solutions. We also are continuing to advance multiple projects and facilities in support of innovation, jobs and economic growth for the Decatur region, the home of our North American headquarters and our largest manufacturing and employee location.\u201d<\/p>\n<\/blockquote>\n\n\n\n<p>The two joint ventures include GreenWise Lactic, of which ADM is a majority owner, and LG Chem Illinois Biochem, which is majority-owned by LG Chem.<\/p>\n\n\n\n<p>For more information about ADM\u2019s presence in Decatur, recent investments and upcoming projects, visit www.adm.com\/Decatur.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ADM (NYSE: ADM) and LG Chem announced today that their previously announced projects for the production of lactic and polylactic acid will not move forward. \u201cSince we originally announced our two joint ventures with LG Chem for lactic and polylactic acid in 2022, construction costs have skyrocketed,\u201d said Chris Cuddy, president of ADM\u2019s Carbohydrate Solutions [&#8230;]<\/p>\n","protected":false},"author":114,"featured_media":149382,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","nova_meta_subtitle":"The two joint ventures include GreenWise Lactic, of which ADM is a majority owner, and LG Chem Illinois Biochem, which is majority-owned by LG Chem","footnotes":""},"categories":[5572],"tags":[5838,5847,10416,5528],"supplier":[19530,20930,1567],"class_list":["post-149378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bio-based","tag-bioeconomy","tag-bioplastics","tag-circulareconomy","tag-sustainability","supplier-adm-ventures","supplier-greenwise-lactic","supplier-lg-chem"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/149378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/114"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=149378"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/149378\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media\/149382"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=149378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=149378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=149378"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=149378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}