DNP Green acquires 100% of Bioamber joint venture

16 November 2010 14:15  [Source: ICIS news]

TORONTO (ICIS)--DNP Green Technology has restructured its Bioamber succinic acid joint venture with France's Agro-industrie Recherches et Developpements (ARD), the US-based renewable chemicals producer said on Tuesday.

Under the restructuring, DNP Green acquired 100% of Bioamber while ARD became a stakeholder in DNP. At the same time, DNP Green changed its name to BioAmber Inc, it said.

Financial terms were not disclosed.

Bioamber was established in 2008 as an equal joint venture to produce bio-based succinic acid. Earlier this year, it commissioned a bio-based succinic acid plant in Pomacle, France.

“As Bioamber moves into its commercial phase, the partners have decided to entrust commercialisation to DNP Green and have ARD focus on process optimisation in the plant and the scale-up of a next-generation organism producing succinic acid,” the companies said.

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By: Stefan Baumgarten
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