BioAmber Partners with Mitsubishi Chemical in Succinic Acid
MINNEAPOLIS, MN, April 26 /PRNewswire/ – BioAmber Inc. has joined forces
with Mitsubishi Chemical Corporation in the field of biobased succinic
acid, in a strategic agreement that makes BioAmber and its Asian
distribution partner Mitsui & Co. the exclusive suppliers of biobased
succinic acid to Mitsubishi Chemical. The three companies are also
conducting a feasibility study to build a succinic acid production
facility next to Mitsubishi’s planned PBS production plant in Thailand.
BioAmber and Mitsubishi Chemical will also incorporate elements of
Mitsubishi’s succinic acid technology into BioAmber’s biosuccinic
platform. The goal is to produce low cost succinic acid that will
drive down the manufacturing cost of Mitsubishi Chemical’s patent
protected polybutylene succinate (PBS), a renewable, biodegradable
polymer. BioAmber has begun to supply Mitsubishi Chemical with
biobased succinic acid produced in Europe. BioAmber has also secured
the right to source biobased PBS from Mitsubishi Chemical for its
modified PBS polymers, which are marketed through BioAmber’s Sinoven
“BioAmber and Mitsubishi have brought together their respective succinic
technologies and combined strengths to establish the dominant, low-cost
succinic acid production platform, and our collaboration with Mitsui &
Co. will help deploy our succinic acid technology rapidly and
globally,” said Jean-Francois Huc, CEO of BioAmber.
“Our partnership with BioAmber is an integral part of our PBS market
development strategy,” said Shigeru Handa, General Manager of
Mitsubishi Chemical’s Sustainable Resources Business Development
Department. “We believe BioAmber has the best-in-class succinic acid
technology that we can further improve. Partnering with BioAmber will
drive down the cost of our PBS, make it over 50% renewable and
accelerate sales growth,” he added.
“This partnership is an excellent example of value chain integration,”
added Ray Balee, the President of BioAmber’s Sinoven Biopolymers
subsidiary. “Thanks to its strong patent portfolio, Mitsubishi
Chemical will be a dominant player in the field of biobased PBS. Our
partnership with Mitsubishi ensures that BioAmber’s customers will have
access to competitively-priced, modified PBS that is renewable and has
freedom to practice.”
About BioAmber Inc.
BioAmber, a renewable chemistry company, is the market leader in the
development and commercialization of biobased succinic acid and
derivatives including modified PBS, a biodegradable plastic offering
better heat resistance and processability than other biopolymers.
BioAmber operates the world’s only dedicated biobased succinic acid
plant and has partnerships with market leaders including Cargill,
DuPont Applied Biosciences, Mitsui & Co. and Mitsubishi Chemical.
BioAmber is leveraging its succinic acid experience and know-how to
also develop a biobased adipic acid platform. The company has offices
and research labs in Minneapolis, MN, an office in Montreal, a sales
office in Shanghai, China and a production plant in Pomacle, France.
For more information see www.bio-amber.com.
About Mitsubishi Chemical Corporation
Mitsubishi Chemical Group is Japan’s major chemical group and offers a
wide variety of products and solutions in three business domains -
performance products, health care, and chemicals. We believe
“Sustainability”, “Health”, and “Comfort” are the key words in the 21(st) century society, and we aim to amalgamate our lineup of products and
technologies into the power of “Chemistry” to greatly contribute to
solving the problems that our global society faces. For more
information see www.m-kagaku.co.jp
SOURCE BIOAMBER INC.