News

Back

BioAmber Inc. Signs Exclusive Supply Agreement for Bio-Succinic Acid in Lubricants

5 year supply agreement is with Oleon, a European leader in oleochemicals

December 2, 2014
BioAmber Inc. today announced it has signed an exclusive supply agreement for bio-based succinic acid with Oleon. Under the terms of the 5-year contract, which runs from 2014 to the end of 2018, BioAmber Sarnia, a joint venture with Mitsui & Co., will supply Oleon with bio-based succinic acid for the development and production of succinate lubricants.
Press Release Summary
 
  • BioAmber Inc. bio-succinic acid is being used to produce bio-based lubricants
  • Oleon is developing lubricants offering high performance, biodegradability and bio-based content
  • Oleon operates 5 manufacturing facilities: four in Europe and one in Malaysia
  • The addressable market for succinic acid in specialty lubricants is estimated to be $100 million

Read full Press Release >>
IW stats counter