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Genting to License Elevance Technology for Malaysia Plant

Genting Plantations Bhd, the palm oil unit of Malaysian gaming billionaire Lim Kok Thay’s Genting Bhd, agreed to license Elevance Renewable Sciences Inc. technology for a biorefinery.

The plant will produce 240,000 metric tons of olefins and specialty chemicals a year that can be used in lubricants and detergents, Woodridge, Illinois-based Elevance said today in a statement on their website.

Elevance will sell all of the chemicals produced at the facility, to be located in Lahad Datu, Sabah, Malaysia. Terms of the agreement weren’t disclosed.

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