NatureWorks, a premier manufacturer of polylactic acid (PLA) biopolymers from renewable sources, announced significant financial support from Krungthai Bank PCL. This funding, totaling $350 million USD, marks a major step in optimizing the capital structure for NatureWorks’ new fully integrated Ingeo PLA manufacturing facility in Thailand. A signing ceremony recently highlighted this partnership, underscoring Krungthai Bank’s trust in NatureWorks’ leadership and its potential global economic impact.
Krungthai Bank, Thailand’s third-largest bank, has demonstrated its commitment to technological and financial innovation, which enhances service accessibility across digital platforms. Emphasizing environmental, social, and governance (ESG) principles, the bank is aligning its operations with the United Nations’ Sustainable Development Goals to promote sustainable banking practices.
The new financing from Krungthai will assist NatureWorks in building its latest manufacturing site for Ingeo PLA, a biobased material widely used in various applications, from plastic to fiber. The investment will support both construction and operational phases of the project, reinforcing NatureWorks’ role as a leader in bioplastic technologies that contribute to Thailand’s Bio-Circular-Green (BCG) economy. The BCG model focuses on leveraging local biodiversity and technology to foster a sustainable and innovation-driven economy.
NatureWorks’ upcoming facility will be located at the Nakhon Sawan Biocomplex, Thailand’s first bio-complex aligned with the BCG Economic Model. This site benefits from abundant locally sourced sugarcane, an essential feedstock for the biopolymer production process. The choice of location near sugarcane plantations ensures a steady supply of raw materials and taps into existing agricultural and processing infrastructure.
Officials from Krungthai Bank expressed that their support for NatureWorks is part of a broader commitment to environmental stewardship and economic innovation. The bank aims to bolster the regional and global bioeconomy by funding this project, creating additional value for local sugarcane farmers and advancing sustainable manufacturing practices.
This significant investment from Krungthai Bank affirms NatureWorks’ strategic positioning within the Asia Pacific region and catalyzes its ongoing efforts to expand the global bioeconomy. With plans to begin production in 2025, the new facility is set to produce an annual capacity of 75,000 tons of Ingeo biopolymer, catering to growing markets across the Asia Pacific, including applications in 3D printing, hygiene, and food serviceware.
As NatureWorks continues its trajectory towards expanding bioplastics on a global scale, stakeholders and industry observers can track its progress and developments through its official website and social media platforms.
