DNP Acquires Remaining Stake in Biosuccinic Acid JV

摘要

DNP Green Technology (Princeton, NJ) says it has acquired full ownership of BioAmber (Pomacle, France), a 50:50 joint venture DNP formed with Agro Industries Recherche et Developpement (ARD; Pomacle, France) in 2008 to commercialize biobased succinic acid. Under the terms of the deal ARD became a shareholder in DNP, which is changing its name to BioAmber. Financial terms were not disclosed. "This was the right moment to restructure our JV," says Jean-Francois Huc, CEO of DNP Green. "Our collaboration has evolved into a business demanding rapid commercialization of biobased succinic acid, in order to take full advantageof our position as first to the market." BioAmber commissioned a european dollar 21 million, 2,000 m.t./year biosuccinic acid plant at Pomacle earlier this year. Succinic acid can be used in place of high-volume chemicals such as 1,4-butanediol (BDO) and can be polymerized, but the high cost of producing succinic acid from petroleum-based feedstocks has kept the market small.