BioAmber achieves milestone with take-or-pay contract for bio-succinic acid

05/06/2014

BioAmber Inc., an industrial biotechnology company producing sustainable chemicals, today announced it has signed its first take-or-pay contract for succinic acid. Under the terms of the agreement, BioAmber will be the principal supplier of bio-succinic acid to PTTMCC Biochem for the production of a biodegradable plastic in Thailand.

PTTMCC Biochem Company Limited (PTTMCC) is a joint venture established by Mitsubishi Chemical Corp., Japan's leading chemical company and PTT Public Company Limited, Thailand's largest oil and gas company. The joint venture will produce and sell polybutylene succinate (PBS), a biodegradable plastic made from succinic acid and 1,4 butanediol (BDO). PTTMCC is constructing a PBS plant in Rayong, Thailand that will have an annual production capacity of 20,000 tons. The PBS plant is expected to be operational in the first half of 2015 and will consume approximately 14,000 tons of succinic acid per year at full capacity.

BioAmber, who has been producing bio-based succinic acid in a large-scale facility in France since January 2010, plans to supply PTTMCC from the new 30,000 ton per year plant that is currently under construction in Sarnia, Canada. That facility, the first to be built pursuant to BioAmber's joint venture agreement with Mitsui & Co., is located in a bio-industrial park owned by Lanxess. The site is co-located in a large petrochemical hub with existing infrastructure that facilitates access to utilities and certain raw materials and finished product shipment, including steam, electricity, hydrogen, water treatment and carbon dioxide. BioAmber plans to further expand production by 20,000 metric tons in 2016, bringing total annual capacity to 50,000 metric tons.
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