HARMAN joins Intelligent Car Coalition for connected car innovation
Beijing, Argonne researchers develop new solid-state Li-ion battery; glassy nanocomposite electrolyte with ILs

Mitsui invests additional C$25M in Bioamber Sarnia bio-succinic acid venture

Renewable materials company BioAmber announced that Mitsui & Co. Ltd., its partner in the Sarnia bio-based succinic acid plant, is investing an additional C$25 million (US$18 million) in the joint venture for 10% of the equity, increasing its stake from 30% to 40%.

Mitsui will also play a stronger role in the commercialization of bio-succinic acid produced in Sarnia, providing dedicated resources alongside BioAmber’s commercial team. BioAmber will maintain a 60% controlling stake in the joint venture.

Mitsui is continuously committed to renewable chemistry and through our increased equity stake we will be more actively involved in joint venture management and sales, leveraging our global sales platforms.

We are very happy with Sarnia’s fermentation and plant operations performance to date and the JV has received quality certifications from more than 90 customers. With this progress, I am confident that Sarnia’s bio-succinic acid will be penetrating the global marketplace quickly.

—Hidebumi Kasuga, General Manager, Specialty Chemicals Division, Basic Chemicals Business Unit

BioAmber’s technology platform combines biotechnology and catalysis to convert renewable feedstock into building block materials that are used in a wide variety of everyday products including plastics, paints, textiles, food additives and personal care products.

Comments

The comments to this entry are closed.