5 Dezember 2014

BioAmber signs exclusive supply agreement for bio-succinic acid in lubricants

5 year supply agreement is with Oleon, a European leader in oleochemicals

  • BioAmber bio-succinic acid is being used to produce bio-based lubricants
  • Oleon is developing lubricants offering high performance, biodegradability and bio-based content
  • Oleon operates 5 manufacturing facilities: four in Europe and one in Malaysia
  • The addressable market for succinic acid in specialty lubricants is estimated to be $100 million

MINNEAPOLIS, Dec. 2, 2014 /CNW/ – BioAmber Inc. (NYSE: BIOA), an industrial biotechnology company producing sustainable chemicals, today announced it has signed an exclusive supply agreement for bio-based succinic acid with Oleon. Under the terms of the 5-year contract, which runs from 2014 to the end of 2018, BioAmber Sarnia, a joint venture with Mitsui & Co., will supply Oleon with bio-based succinic acid for the development and production of succinate lubricants.

Oleon, a division of Sofiproteol, is a leading European producer of oleochemicals (oil derived chemicals). Oleon is developing a new line of succinic acid based lubricants that target 100% carbon renewability. Oleon is combining bio-succinic acid and (bio-based) alcohols to produce a new line of lubricants for industrial uses requiring high performance, biodegradability and renewable content.

Oleon’s new line of succinic acid based lubricants targets a strong performance in extreme conditions, including cold weather, where they offer improved temperature flowability without compromising seal compatibility. These Oleon lubricants also offer good physico-chemical properties including oxidation and hydrolytic stability, pour point and color. BioAmber will supply Oleon from its Sarnia plant, which is expected to be completed in early 2015 and have an initial capacity of 30,000 tons per year.

“Oleon’s new line of lubricants is a great example of the value and differentiation that bio-based succinic acid can bring in technically challenging applications,” said Jean-Francois Huc, BioAmber’s Chief Executive Officer. “Our work with Oleon, an innovator in oleochemicals, is helping to drive adoption of new, succinic acid based solutions in the industrial segment of the lubricants market.”

“This agreement highlights the importance of collaboration to accelerate innovation in the oleochemical industry,” said Moussa Naciri, Oleon’s Chief Executive Officer. “We believe that working with sustainable chemical companies such as BioAmber brings fresh ideas and new products offering unique combinations of performance and sustainability for our industry,” he added.

 

About BioAmber

BioAmber (NYSE: BIOA) is an industrial biotechnology company producing sustainable chemicals. Its proprietary technology platform combines industrial biotechnology and chemical catalysis to convert renewable feedstock into sustainable chemicals for use in a wide variety of everyday products including plastics, resins, food additives and personal care products.

About Oleon

Oleon NV, a division of the Sofiprotéol group, is engaged in the development, production, commercialization and supply of oleochemical products, and is a leading manufacturer of esters with applications in various markets such as amongst others lubricants and cosmetics. Oleon’s global presence is supported by 10 sales affiliates: Benelux, Germany, UK, France, Southern Europe, Northern Europe, Eastern Europe, America, Asia Pacific and China.

Source: BioAmber, press release, 2014-12-02.

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