It is the methyl ester of lactic acid.
A colorless liquid, it is the simplest chiral ester.
Being naturally derived, it is readily available as a single enantiomer.
It is used in the manufacture of lacquers and dopes where it contributes high tolerance for diluents, good flaw and blush resistance.
[2] The synthesis of 1,2-propanediol from methyl lactate has been commercialized using a MACHO catalyst.