16 February 2012 14:08 [Source: ICIS news]
HOUSTON (ICIS)--BioAmber and NatureWorks have formed a joint venture to develop and commercialise new bio-based polymers, the US renewable chemicals firms said on Thursday.
AmberWorks will combine “the best of both companies” into an entity tasked with developing a new family of bio-based compounded polymer solutions, they said in a joint statement.
Marc Verbruggen, CEO of NatureWorks, said that the new product range being developed by AmberWorks will enable NatureWorks “to broaden its existing product portfolio, allowing for bio-based product solutions in applications that were previously difficult to address".
Jean-Francois Huc, CEO of BioAmber, said: “The AmberWorks [joint venture] builds on BioAmber's core business: the production of cost-competitive, renewable chemicals that include succinic acid and 1,4-butanediol."
"Our novel PBS [polybutylene succinate] compounding technology has enabled us to forward-integrate into polymers and our partnership with NatureWorks, the global market leader in biopolymers, will strengthen and accelerate market access for our growing portfolio of renewable solutions," Huc added.
With the formation of the joint venture, NatureWorks also plans to commercialise a new family of resin grades for food service ware applications, the companies added.
Financial details were not disclosed.
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