Angel Yeast Partners with PhaBuilder to Drive Wider Synthetic Biology Applications with Launch of Joint Venture PHA Factory

YICHANG,China,June 29,2023 -- Angel Yeast (SHA:600298),the world's leading yeast manufacturer,along with Beijing PhaBuilder in a joint venture,Hubei PHAngel Biotechnology,recently put a large polyhydroxyalkanoates (PHAs) production line in Hubei province into construction. In early June,the two partners held a launch ceremony to mark the event and the opening of Hubei's first synthetic biology (SynBio) industrial park. Academicians from the Chinese Academy of Sciences,government officials,Angel Yeast,PhaBuilder,and Siemens China executives were all in attendance.

All esteemed guests gathered to witness the launch of the venture PHA factory.

The PHAs factory,located in Yichang city,has a production line capacity of 30,000 tons and is the largest PHA production line built with Next Generation Industrial Biotechnology (NGIB) in the world. PHAs are a polyester produced naturally by microorganisms and its biodegradable and biocompatible properties make it highly sought-after in fields such as biomedical material and biodegradable packaging material. Already a trending field in biotechnology,the SynBio sector has been rapidly growing backboned by advanced technologies and increasing demand for SynBio applications.

Zhang Xu,deputy director with Angel Yeast's Strategic and Investment department,said,"We have stepped up our efforts in synthetic biology and its applications and the opening of the PHA factory is a major milestone and a significant step forward for Angel Yeast in SynBio. It aligns with our commitment to sustainability and will fuel green and low carbon development in manufacturing."

In addition to the PHA factory,Angel Yeast has rolled out a strategic plan for SynBio. It aims to build a comprehensive service platform catering to the needs of biotechnology companies when they are transforming and commercializing SynBio products. The Company will also seize downstream opportunities and actively seek cooperation partners who have complementary advantages in technology,products,channels,and branding. It will promote the application of SynBio in areas such as healthcare,biodiversity preservation,and pharmaceuticals.

According to data from CB Insights,the global market size of synthetic biology is projected to reach US$18.9 billion by 2024. In China,as noted by Deng Zixin,academician with the Chinese Academy of Sciences and professor at Shanghai Jiao Tong University,SynBio technologies are rapidly progressing towards practical and industrial applications so it is vitally important that various sectors and industries collaborate to drive its development to new heights.