Hyosung TNC said it received investment approval for the "Hyosung BDO Project" from the Ba Ria-Vung Tau Provincial Government at the "Ba Ria-Vung Tau Province Vision Declaration and Investment Approval Ceremony" held in Phu My 2 Industrial Park in southern Vietnam. Hyosung TNC plans to invest $1 billion to establish multiple Bio-BDO production plants capable of producing 200,000 tons annually.

BDO (Butanediol) is a chemical used as a raw material for PTMG, which is used to make spandex fiber. In addition to spandex (PTMG) fiber, BDO applications have expanded to include engineering plastics, biodegradable packaging, footwear soles, industrial compounds, and many other industries.

Bio-BDO is manufactured by fermenting sugars derived from sugarcane, replacing traditional fossil raw materials such as coal by 100%. It is expected to attract a significant attention in the sustainable materials market.

Geno's technology enables Hyosung TNC to fast track their project and unlocks the production and selling of Bio-BDO with an annual capacity of 50,000 tons in the first half of 2026.
 

Source: Nasdaq