BioAmber Inc signs first take-or-pay contract succinic acid with PTTMCC Biochem

BioAmber signs take-or-pay contract for succinic acid with PTTMCC Biochem

12:18 PM, 2nd May 2014
BioAmber Inc business news

MINNEAPOLIS, US: BioAmber Inc, an industrial biotechnology company producing sustainable chemicals, has signed its first take-or-pay contract for succinic acid. BioAmber will be the principal supplier of bio-succinic acid to PTTMCC Biochem Company Limited, JV between Mitsubishi Chemicals and PTT Public Company, for the production of biodegradable plastic in Thailand.

PTTMCC will produce and sell polybutylene succinate (PBS), a biodegradable plastic made from succinic acid and 1,4 butanediol. PTTMCC is constructing a PBS plant in Rayong, Thailand that will have an annual production capacity of 20,000 tonne. The PBS plant is expected to be operational in the first half of 2015 and will consume approximately 14,000 tonne of succinic acid per year at full capacity.

“This first succinic acid take-or-pay agreement is an important milestone for BioAmber. This contract guarantees significant sales volume for our Sarnia plant during its first three years of operation. PTTMCC is a major new buyer of bio-succinic acid and locking up this substantial volume commitment will strengthen our market leadership,” said Babette Pettersen, Chief Commercial Officer, BioAmber.

 

© Worldofchemicals News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Clariant closes the sale of leather services business to Stahl Holdings

MUTTENZ, SWITZERLAND: Clariant, a world leader in specialty chemicals, announced the closing of the sale of its Leather Services business to Stahl Hol ...

Read more
Rentech acquires wood pellets producer, New England Wood Pellet

LOS ANGELES, US: Rentech Inc has acquired New England Wood Pellet (NEWP), the largest producer of wood pellets for the US heating market. The Company& ...

Read more
China imposes temporary anti-dumping duties on tertiary butylhydroquinone imports from India

BEIJING, CHINA: China’s Ministry of Commerce (MOC) announced temporary anti-dumping measures against tertiary butylhydroquinone (TBHQ) imports f ...

Read more
Arkema inaugurates electrolysis unit at Jarrie plant, France

COLOMBES, FRANCE: Arkema inaugurated a new electrolysis unit at Jarrie plant near Grenoble, France. The new electrolysis unit marks a new milestone in ...

Read more
Honeywell to expand nylon polymer capacity in Chesterfield, US

MORRIS TOWNSHIP, US: Honeywell Resins and Chemicals will expand production capacity at its Chesterfield, Virginia, US, facility to meet demand for hig ...

Read more
Bayer to expand hydrochloric acid facility in Dormagen, Germany

DORMAGEN, GERMANY: Bayer MaterialScience has been issued the permit for the expansion and operation of its hydrochloric acid facility in Dormagen, Ger ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X