Pyran secured additional letters of intent for its 1,5 Pentanediol (1,5 PDO) and expanded its toll manufacturing capabilities to meet growing market demand, the company recently announced.

“Our market traction is stronger than ever,” Pyran Chief Technology Officer Kevin Barnett said in a statement. “Our ability to secure multiple letters of intent and additional toll manufacturing capacity are critical steps in scaling our operations effectively and continuing our leadership in the biobased market.”

In addition to the letters of intent, the company expanded its toll manufacturing operations and recently completed life cycle assessment (LCA) confirmed up to a 99% reduction in greenhouse gas (GHG) emissions for its biobased 1,5 PDO compared to petroleum-derived diols.

To date, the company has raised approximately $12.5 million in total investments.