Meredian, Inc. purchased the intellectual property that forms the basis of its bioplastic technology from Procter & Gamble in 2007, and has continued to improve the patent portfolio with key international and North American patents. Meredian’s founding partners, S. Blake Lindsey and Dr. Daniel T. Carraway, shared the vision of P&G that PHA could provide global markets with a sustainably produced, renewable, biodegradable plastic material at a competitive cost. Dr. Isao Noda joined the Meredian team in 2013, after a distinguished three-decade-long career with Procter & Gamble, where he developed specific types of PHAs known as medium-chain-length polyhydroxyalkanoates (mcl-PHA). The patented version of this mcl-PHA, NodaxTM, is the primary product now being developed for global manufactured production. Meredian PHA, and specifically NodaxTM, possesses a full spectrum of physical properties which promise mounting challenges to the status quo of petroleum-based plastics previously held advantages in performance and price. In March, 2014, this product received FDA approval for food contact applications, increasing its adaptation and utility for consumer products. The Meredian intellectual property holdings currently include multiple patents and patent applications with global coverage.
Meredian, Inc. has been successful to date in raising the required capital for building our teams, labs, pre-pilot and now pilot scale production systems. This has been achieved through a combination of individual investors, strategic customer partners and U.S. Government supported loan programs for businesses, bringing jobs to rural America such as those offered by the USDA-Rural Development and the U.S. Department of Treasury-New Market Tax Credit programs. In late March, 2013, Meredian, Inc. received an affirmative technical assessment which reveals that this FDA approved, patented mcl-PHA formulation process is able to be successfully duplicated for commercial scale production. Tate & Lyle, a global provider of quality ingredients and solutions for industry, especially food and beverage, notified Meredian, Inc. of the promising results, yielding a full affirmation for duplication of the manufacturing process on a worldwide basis.