A UNIQUE FOR RUSSIA PROJECT FOR THE PRODUCTION OF FORMIC ACID IS BEING IMPLEMENTED IN MORDOVIA
In 2022, the Mordovian company «Exponenta» launched a unique for Russia investment project for the production of formic acid. Previously, it was not produced in Russia, deliveries came mainly from Germany and China.
– 104 tons of chemical preservative were sold, which makes it possible to harvest about 25,000 tons of grain crops. We have fulfilled these needs, which is approximately 47% of the market capacity for all chemical preservatives in our republic. That is, we can safely say that we have replaced imported products in our region by 47%, – said Sergey Araslankin, General Director of LLC «Exponenta».
As of December 2022, «Exponenta» produced about 60 tons of formic acid. The first samples were used to create a chemical preservative necessary for harvesting grain crops. The main share of the products was shipped to the domestic market – to the agrarians of the republic.
The need for formic acid throughout the country is huge, so there are no problems with potential customers at the «Exponenta». Production volumes are expected to grow by about 40%.
It should be noted that this investment project is being implemented with the support of the regional Entrepreneurship Support Fund and the Innovation Promotion Fund.