DNP Green Technology said it has acquired 100% of the shares in Bioamber from Agro-industrie Recherches et Developpements (ARD). ARD, meanwhile has become a shareholder of DNP Green.
Bioamber was established as a 50/50 joint venture between DNP Green and ARD in 2008 to scale up and commercialize a biobased succinic acid technology platform. In 2010, Bioamber commissioned its bio based succinic acid plant in Pomacle, France, which is still owned and operated by ARD. Bioamber has secured exclusive access to the plant for the next three years through a toll manufacturing agreement.
DNP Green, which now officially changes its name to BioAmber Inc. will focus on commercialization of the bio-succinic acid while ARD focuses on process optimization in the plant and the scale up of a next-generation organism producing succinic acid.
DNP Green (now BioAmber) president Jean-Francois Huc told the blog to expect more announcements before Christmas on more deals that the company signed over the past six months.