MINNEAPOLIS, MN, April 24, 2015 /PRNewswire/ - BioAmber Inc. (NYSE: BIOA) has been chosen by Bayer MaterialScience as the supplier of bio-succinic acid used to produce a new range of innovative, bio-based polyurethanes for textile applications that Bayer MaterialScience has begun commercializing.
Bayer MaterialScience has launched IMPRANIL® eco, a series of bio-based waterborne polyurethane dispersions with renewable content that reaches as high as 65%. IMPRANIL® eco has been developed to address the textile needs of the sportswear/footwear, automotive and fashion industries. IMPRANIL® eco enables manufacturers to produce synthetic materials and coated fabrics with a high content of renewable materials in every layer, with performance that matches the high level of conventional products, and the bio-based raw materials can be used without reformulation.
"Sustainability is becoming a purchasing decision criterion for consumers and is high on the agenda for the textiles industry. IMPRANIL® eco improves the ecological footprint for manufacturers, OEMs and brand owners. For the renewable raw materials for IMPRANIL® eco, we are happy to have partnered with BioAmber, a technology leader that will provide a reliable supply of these precursors in sufficient scale," said Nicholas Smith, Global Head of Textile Coating at Bayer MaterialScience.
BioAmber has been working for over five years on the use of bio-succinic acid in polyurethanes. Bio-succinic acid brings differentiated performance when formulated by leading companies such as Bayer MaterialScience, and can substitute adipic acid to bring unique properties in applications such as synthetic leather, wood and metal coatings, elastomers and foams. Current adipic acid use in polyurethanes is 25% of the 3 million ton global market, representing 750,000 tons of annual consumption. This market for bio-succinic acid is poised for rapid growth as manufacturers seek to increase the renewable content in their products by using more bio-based polyurethanes.
Penetration of the polyurethanes market is part of BioAmber's broader strategy to accelerate the adoption of green chemistry in existing petrochemical supply chains. In 2014 BioAmber was selected as one of the top-ten green chemistry innovators by LAUNCH, an organization established by NASA, NIKE, the U.S. Department of State and the U.S. Agency for International Development. LAUNCH was created to identify and foster breakthrough solutions to create a more sustainable world, and aims to move beyond incremental change and make impact at a system wide level. The founding organizations including NIKE, together with leading companies such as Walmart, IKEA and Bayer MaterialScience, are helping to advance green chemistry by generating demand for more sustainable products.
"Through formulation expertise and innovation, Bayer MaterialScience has shown that greener, more sustainable solutions can match the performance of existing products and be true drop-ins. With our 30,000 ton plant now being commissioned in Sarnia, we will reliably supply bio-succinic acid to customers spanning the polyurethane, paints and coatings, personal and home care, plastics and food markets," said Babette Pettersen, BioAmber Chief Commercial Officer.
With 2014 sales of EUR 11.7 billion, Bayer MaterialScience is among the world's largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction and the sports and leisure industries. At the end of 2014, Bayer MaterialScience had 30 production sites and employed approximately 14,200 people around the globe. Bayer MaterialScience is a Bayer Group company.
The Bayer MaterialScience press release for IMPRANIL® eco is available at: http://www.press.bayer.com/baynews/baynews.nsf/ID/D7086AE33EB45BB0C1257E2E003F482A?OpenDocument=
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, paints, food additives and personal care products. For more information visit www.bio-amber.com
This press release contains forward-looking statements, including statements related to the future sale of bio-based succinic acid to Bayer MaterialScience, the future operation of the Sarnia plant, the performance of bio-based succinic acid and its capacity to replace adipic acid in certain applications, and future market growth for bio-based succinic acid. All statements other than statements of historical fact in this press release are forward-looking statements. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "seek," "will," "may" or similar expressions. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond BioAmber's control. BioAmber's actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur and the timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, you should not place undue reliance on these forward-looking statements. All such statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. For additional disclosure regarding these and other risks faced by BioAmber, see disclosures contained in BioAmber's public filings with the SEC including, the "Risk Factors" section of BioAmber's most recent Annual Report on Form 10-K for the year ended December 31, 2014.
SOURCE BioAmber Inc.