DNP Green Technology acquires 100 per cent Bioamber JV

DNP Green Technology acquires 100 per cent of Bioamber JV

10:36 PM, 14th November 2011
DNP Green Technology acquires 100 per cent of Bioamber JV
Bioamber Succinic acid plant in France.

 

MINNEAPOLIS, US: DNP Green Technology and Agro, industrie Recherches et Developpements (ARD) announced the restructuring of their Bioamber joint venture. DNP Green Technology acquired 100 per cent shares in Bioamber and ARD became a shareholder in DNP Green Technology. The demonstration plant operating in Pomacle France is owned and operated by ARD, with Bioamber securing exclusive access to the plant for the next three years through a toll manufacturing agreement.

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. As Bioamber moves into its commercial phase, the partners have decided to entrust commercialization to DNP Green and have ARD focus on process optimization in the plant and scale up of a next-generation organism producing succinic acid.

“Our collaboration has evolved into a business demanding rapid commercialization of biobased succinic acid, in order to take full advantage of our position as first to market. Both partners felt that this could best be achieved through DNP Green,” said Jean-Francois Huc, CEO, DNP Green. “Also DNP Green will benefit from having Siclae as the principal shareholder in ARD. Siclae is the industrial arm of a group of leading European agricultural cooperatives. They provide us with access to European feedstocks,” added Huc.

“DNP Green’s business model, which involves licensing alongside direct equity stakes in plants, will generate better profitability than the straight licensing model we had envisaged for the JV,” said Dominique Dutartre, Managing Director of Siclae.

Concurrent with acquisition of ARD’s shares in the JV, DNP Green Technology has changed its name to BioAmber Inc.

(C) WOC News

 

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