LANXESS strengthens commitment to renewable raw materials with investment in BioAmber

Companies have developed phthalate-free plasticizers from bio-based succinic acid

24-Feb-2012 - Germany

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LANXESS is strengthening its commitment to renewable raw materials by investing USD 10 million in U.S. company BioAmber, Inc. as part of a private placement. 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.

As part of the investment, LANXESS has received a minority shareholding in BioAmber and a seat on the Board of Directors, which will be filled by Jorge Nogueira, head of LANXESS' Functional Chemicals business unit that manufactures phthalate-free plasticizers. BioAmber was founded in October 2008 and has 40 full-time employees.

BioAmber produces succinic acid through the fermentation of renewable raw materials. The process developed by BioAmber consumes considerably less energy than the production of succinic acid using fossil fuels, is significantly more cost-effective and has a better carbon footprint. In the future, the company plans to use waste from the agriculture industry and sugarcane processing as starting materials.

https://www.chemeurope.com/en/news/136638/lanxess-strengthens-commitment-to-renewable-raw-materials-with-investment-in-bioamber.html