SHANGHAI -- BioAmber Inc. has joined forces with Mitsubishi Chemical Corporation in the field of biobased succinic acid, in a strategic agreement that makes BioAmber and its Asian distribution partner Mitsui & Co. the exclusive suppliers of biobased succinic acid to Mitsubishi Chemical. The three companies are also conducting a feasibility study to build a succinic acid production facility next to Mitsubishis planned PBS production plant in Thailand.

BioAmber and Mitsubishi Chemical will also incorporate elements of Mitsubishis succinic acid technology into BioAmbers biosuccinic platform. The goal is to produce low cost succinic acid that will drive down the manufacturing cost of Mitsubishi Chemicals patent protected polybutylene succinate (PBS) a renewable, biodegradable polymer. BioAmber has begun to supply Mitsubishi Chemical with biobased succinic acid produced in Europe. BioAmber has also secured the right to source biobased PBS from Mitsubishi Chemical for its modified PBS polymers, which are marketed through BioAmbers Sinoven Biopolymers subsidiary. "BioAmber and Mitsubishi have brought together their respective succinic technologies and combined strengths to establish the dominant, low cost succinic acid production platform, and our collaboration with Mitsui & Co. will help deploy our succinic acid technology rapidly and globally," said Jean Francois Huc, CEO of BioAmber.

"Our partnership with BioAmber is an integral part of our PBS market development strategy," said Shigeru Handa, General Manager of Mitsubishi Chemicals Sustainable Resources Business Development Department. "We believe BioAmber has the best in class succinic acid technology that we can further improve. Partnering with BioAmber will drive down the cost of our PBS, make it over 50% renewable and accelerate sales growth," he added.

"This partnership is an excellent example of value chain integration," added Ray Balee, the President of BioAmbers Sinoven Biopolymers subsidiary. "Thanks to its strong patent portfolio, Mitsubishi Chemical will be a dominant player in the field of biobased PBS. Our partnership with Mitsubishi ensures that BioAmbers customers will have access to competitively priced, modified PBS that is renewable and has freedom to practice."

Source: BioAmber Inc