Germany's LANXESS to invest $10m in US-based BioAmber

22 February 2012 12:59  [Source: ICIS news]

LONDON (ICIS)--Germany’s LANXESS is investing $10m (€8m) in US-based renewable chemicals company BioAmber, to strengthen its commitment to renewable raw materials, the specialty chemicals company said on Wednesday.

As part of the investment, LANXESS will receive a minority shareholding in Minnesota-based BioAmber and a seat on the board of directors, LANXESS said.

“Our investment in BioAmber shows our commitment to launching a new generation of plasticisers that meet regulatory requirements and can also score in terms of sustainability,” said Jorge Nogueira, head of LANXESS' Functional Chemicals business unit, which produces phthalate-free plasticisers.

LANXESS and BioAmber have worked together for more than two years assessing the performance and opportunities of succinate-based esters in the plasticiser market.

In October 2011, LANXESS agreed a deal with BioAmber to jointly develop succinic acid-based plasticisers.

($1 = €0.75)

For more on LANXESS visit ICIS company intelligence


By: Leigh Stringer
+44 208 652 3214



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