Bio-based Polyol Enables Market Leader Flokser to Launch Innovative Artificial Leather Fabric
- Unique synthetic leather fabric has 70% bio-content, thanks to new polyol made with BioAmber's Bio-SA™ and DuPont Tate & Lyle Bio Products' Susterra® (bio-based 1,3-propanediol)
- In addition to its renewable content, fabric offers better abrasion resistance and softer touch
- The addressable market for this polyol in artificial leather is estimated to be 330 million pounds
- Flokser Group is a global leader in the production and export of leathers, suede and fabrics
MONTREAL, June 23, 2015 /CNW Telbec/ - BioAmber Inc. (NYSE: BIOA) announced today that the Flokser Group, a global leader in leather and suede fabrics, has successfully developed an innovative artificial leather fabric using bio-based materials supplied by DuPont Tate & Lyle Bio Products and BioAmber.
Flokser has launched this new synthetic leather fabric under its SERTEX brand. The novel fabric comprises a polyester polyol made from BioAmber's Bio-SA™ bio-based succinic acid and DuPont Tate & Lyle Bio Products' Susterra® bio-based 1,3-propanediol. Flokser's artificial leather fabric has 70% renewable content and delivers improved performance. It provides better scratch resistance and has softer touch than current synthetic leather fabrics made with petroleum derived chemicals. The global addressable market opportunity for these bio-based polyester polyols in artificial leather is estimated to be 330 million pounds per year (150,000 metric tons); a 165 million pound market for bio-succinic acid and a 165 million pound market for bio-1,3-propanediol.
"We have been working over the years on sustainability and have made remarkable steps, including producing first in Turkey phthalate free artificial leather polyurethane systems. We strive to work with global best in class companies to shape the future. Working with BioAmber and DuPont Tate & Lyle has helped us to generate fresh ideas and develop new products that offer a unique combination of performance and sustainability for our industry," said Ekin Tükek, Flokser Group board member.
"This new eco-friendly artificial leather fabric from Flokser demonstrates the performance that bio-based materials can offer in technically challenging applications. The artificial leather made with our Bio-SA™ and DuPont Tate & Lyle's Susterra® outperforms standard products, bringing better abrasion resistance and softer touch," said Babette Pettersen, BioAmber's Chief Commercial Officer.
"We are pleased with this new product launch in a major industrial segment of the polyurethane market, and we believe that working with Flokser, an industry leader, will drive market adoption. This new artificial leather fabric is a unique product, combining renewable content with the highest standards of performance and quality", said Steve Hurff, VP Marketing and Sales, DuPont Tate & Lyle Bio Products.
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, paints, food additives and personal care products. For more information visit www.bio-amber.com
About DuPont Tate & Lyle Bio Products DuPont Tate & Lyle Bio Products is a joint venture between DuPont, a global science company, and Tate & Lyle, a world-leading renewable food and industrial ingredients company. DuPont Tate & Lyle Bio Products provides natural and renewably sourced ingredients that enhance product performance. For more information on the company's products, visit http://www.duponttateandlyle.com.
About Flokser Group Flokser Group, founded in 1982 in İstanbul, Turkey, is one of the leading global leather, suede, fabric and polyurethane producers and exporters. The company carries out its production activities in İstanbul under the Sertex brand for its fabrics and the Poliser brand for its polyurethane systems. Due to its pace of growth and ongoing investments the company restructured its organization in 2014 under the umbrella of TUKEK Holding. The company runs its businesses with the latest technologies and exports to more than 54 countries. For more information, visit http://www.flokser.com.tr.
Forward-Looking Statements This press release contains forward-looking statements, including statements related to sales to the Flokser Group. 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 Report on Form 10-Q for the quarter ended March 31, 2015.
Susterra® is a registered trademark of DuPont Tate & Lyle Bio Products Company LLC.
SOURCE BioAmber Inc.