Lanxess invests $10 million in BioAmber renewable raw materials

Lanxess invests $10 million in BioAmber for renewable raw materials

11:37 PM, 22nd February 2012
Lanxess invests $10 million in BioAmber for renewable raw materials

LEVERKUSEN, GERMANY: Lanxess is strengthening its commitment to renewable raw materials by investing $10 million in BioAmber Inc, a global leader in succinic acid produced from renewable resources. Together, the two companies have developed plasticizers, whose cost-effectiveness and safety profile make them sustainable alternatives to phthalate-containing formulations. Market entry is expected later this year. In addition, both companies are in talks to extend their partnership into further product areas in the future.

Both companies are preparing agreements for Lanxess to provide BioAmber with the land as well as the utilities and services needed to operate the facility. “Our investment in BioAmber shows our commitment to launching a new generation of plasticizers that meet regulatory requirements and can also score in terms of sustainability,” said Jorge Nogueira, Head of Functional Chemicals Business unit, Lanxess.

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