The chemical industry has recognized the potential of bio-renewable chemicals and more particularly the importance of succinic acid as a building block for different specialty and commodity chemicals. BioAmber Inc. has a clear competitive advantage in this important market: it is the only company that has successfully produced biobased succinic acid on a large scale, using 80 000 litres fermentations. This has allowed BioAmber Inc. to market samples of its biobased succinic acid to all parts of the world and accelerate the development of new applications for succinic acid through collaborations with a number of companies.
BioAmber Inc.’s technology was originally developed by the US Department of Energy and provides higher purity and lower cost than the traditional petrochemical route, while at the same time sequestering CO2 gas. BioAmber Inc.’s 2,000 metric ton production plant will come on line in 2009 and further strengthen its competitive advantage. The plant will accelerate BioAmber’s Inc. efforts to license-out its technology and rapidly gain market dominance. Frost & Sullivan projects that the market for succinic acid will grow at a CAGR of 32% through 2014, and that BioAmber Inc.’s technology will capture a 50% market share by 2011.
The Frost & Sullivan Award for Technology Innovation is presented to the company that has demonstrated technological superiority within its industry. This award recognizes the ability of the company to successfully develop and introduce new technology, formulate a well-designed product family and make significant product performance contributions to the industry.
To choose the recipient of the award, the analyst team tracks emerging and existing technologies, as well as R&D developments. This is accomplished through interviews with major market participants and extensive secondary research. Also considered are elements such as product launches and customers, which are ranked for relative position. Frost & Sullivan then presents the award to the company that received the number one industry rank.
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About Frost and Sullivan
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About DNP Green Technology
DNP Green Technology is a private US company dedicated to the development of innovative technologies that use renewable biomass to produce green building blocks for the chemical industry that are cost competitive with fossil fuels. Thanks to its numerous scientific and business partnerships, DNP Green Technology has succeeded in building an extensive portfolio of patents and expertise in the production and purification of bio-based succinic acid and derivative products, as well as their use in various applications. DNP Green Technology has offices in Princeton, N.J., and Montreal, Canada.
ARD (Agro-Industrie Recherches et Développements) is the R&D centre of the Champagne-Ardenne agricultural cooperatives that grow cereals, sugar and alfalfa. Representative of the global-scale competitiveness cluster IAR (Industries and Agro-Resources), ARD adds value to and finds new outlets for agricultural crops and develops innovative and competitive products that use the renewable carbon in plants after processing in a biorefinery. Along with its affiliate SOLIANCE, which specializes in the production and commercialization of active ingredients for the cosmetics industry, ARD has 25 years of experience in the fractionation of plants, green chemistry, and white biotechnology. ARD and its affiliates have approximately 130 employees.
About BioAmber Inc.
BioAmber Inc. is a white biotechnology company dedicated to the production of bio-based succinic acid and derivatives. BioAmber Inc. is a joint venture established between DNP Green Technology and ARD.