BioAmber Inc. recently commissioned the world’s first biobased succinic acid plant and is actively engaged in discussions to build large-scale plants in North America and Asia. “We plan to use this new technology in all of our commercial plants when it is ready” stated Jean-Francois Huc, CEO. Under the terms of this agreement, BioAmber Inc. has exclusive, worldwide rights to Cargill’s technology in the field of succinic acid derived from renewable feedstocks including non-food feedstocks like lignocellulosic material.
“Cargill’s technology platform will allow us to dramatically increase the nameplate capacity of existing plants with minimal investment, and further reduce the cost to manufacture our biobased succinic acid,” added Jim Millis, BioAmber Inc.’s Chief Technology Officer.
“Our technology has been proven in large scale commercial operations and we think that BioAmber Inc. is an ideal partner to commercialize our technology in the field of renewable succinic acid,” said Jack Staloch, Vice President and Director of Cargill’s Biotechnology Development Center. “When our technology is ready for commercialization, we anticipate that BioAmber Inc. will have plants operating that our technology can be dropped into, generating immediate revenues.”
About BioAmber Inc.
BioAmber Inc. (formerly DNP Green Technology) is a private US company producing renewable chemicals. BioAmber Inc. has an extensive IP portfolio and know-how covering the production, purification and use of biobased succinic acid and derivatives including modified PBS, a biodegradable polymer. In the past year BioAmber commissioned the world’s first dedicated bio-succinic acid plant and concluded agreements with Cargill, Mitsui & Co, DuPont Applied Biosciences and GreenField Ethanol. The company’s head office is located in Montreal, Canada, with research labs in Minneapolis, MN, a sales office in Shanghai, China, and a production plant in Pomacle, France.
Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, the privately held company employs 131,000 people in 66 countries. Cargill helps customers succeed through collaboration and innovation, and is committed to applying its global knowledge and experience to help meet economic, environmental and social challenges wherever it does business. For more information, visit www.cargill.com.
Media Contact (BioAmber Inc.)
VP Corporate Affairs
Phone: (514) 844-8000 x120
Media Contact (Cargill)
Phone: (952) 742-4204