BioAmber signed succinic acid supply agreement with Chinese firm, Xuchuan

BioAmber to supply bio succinic acid to Chinese firm

11:31 AM, 6th October 2014
BioAmber signed succinic acid supply agreement with Chinese firm, Xuchuan

MONTREAL, CANADA: BioAmber Inc, an industrial biotechnology company producing sustainable chemicals, has signed an exclusive supply agreement for bio-based succinic acid with Chinese firm, Xuchuan, a top five global producer of polyester polyols. Under the terms of the 5-year contract, which runs from 2015 to the end of 2019, BioAmber Sarnia, a joint venture with Mitsui & Co, will ship to Xuchuan’s Chinese facilities bio-based succinic acid it has produced in Sarnia, Canada.

By replacing adipic acid with succinic acid, Xuchuan has produced CPUs that offer better properties: they are more abrasion/scratch resistant and more resistant to solvents. The forecasted succinic acid volumes in the contract for this initial application are 300 to 500 tonne per year. Xuchuan is broadening its line of sustainable, bio-succinic acid based polyester polyols to other applications, including resins for shoe soles, coating and synthetic leathers. BioAmber projects the long-term sales potential to Xuchuan for these applications could be several thousand tons of succinic acid per year.

“Our deal with Xuchuan is further validation of the growing market for our bio-succinic acid. This supply agreement is indicative of the volumes that can be generated from a single customer in one application segment.  Our contract with Xuchuan demonstrates that our bio-succinic acid can improve the performance of materials such as CPU and that it is price competitive in the Chinese market,” said Babette Pettersen, Chief Commercial Officer, BioAmber.

 

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