MINNEAPOLIS, MN, June 20, 2011 /PRNewswire/ - BioAmber, Inc. has been awarded a 2011 Presidential Green Chemistry Challenge Award, presented by the Environmental Protection Agency (EPA) and the American Chemical Society (ACS). The Award promotes technology that provides substantial environmental benefits using green chemistry. BioAmber’s platform was recognized as the leading technology in the field of succinic acid. BioAmber is the first company to successfully commercialize a biobased chemical that directly substitutes its petro-chemical equivalent.
BioAmber’s succinic acid platform delivers environmentally sound, cost-effective performance materials that can replace petrochemicals in a wide range of applications, including adipic-based polyurethanes, phthalate-based plasticizers and acetate-based deicing solutions. BioAmber’s technology produces succinic acid that competes on cost with fossil fuel derived succinic acid when oil prices are well below $40 per barrel. The technology also sequesters carbon dioxide rather than emitting it.
Today’s Presidential Green Chemistry Challenge Award recognizes BioAmber’s achievements in establishing the first large-scale production facility for biobased succinic acid and creating a portfolio of renewable chemicals and polymers that are made from succinic acid. The portfolio includes modified polybutylene succinate (mPBS), a novel, high temperature biopolymer that is also biodegradable. BioAmber has established partnerships across its value chain that helped accelerate the scale up and commercialization of its succinic acid technology. These partnerships include Mitsui & Co. and Mitsubishi Chemicals in Asia, Cargill, DuPont and Matric in North America, and ARD and Siclae in Europe. BioAmber has a plant producing succinic acid in Europe and will start construction of second plant in North America this year.
“BioAmber has successfully combined biotechnology and chemistry to develop a sustainable, cost-competitive process for making succinic acid and derivatives that include butanediol. We are pioneers in biobased chemicals and materials and we are honored that the EPA and ACS have recognized our accomplishments and leadership in the field of succinic. Our success story is a great example of open innovation and we accept this award on behalf of all our development partners”, said Jim Millis, BioAmber’s Chief Technology Officer.
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 also leveraging its succinic acid experience and know-how to 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.
SOURCE BIOAMBER INC.
