BioAmber wins Presidential Green Chemistry Challenge Award
July 13, 2011
BioAmber, Inc. has been awarded a 2011 Presidential Green Chemistry Challenge Award, presented by the Environmental Protection Agency (EPA) and the American Chemical Society (ACS). The Award promotes technology that provides substantial environmental benefits using green chemistry. BioAmber’s platform was recognized as the leading technology in the field of succinic acid. BioAmber is the first company to successfully commercialize a biobased chemical that directly substitutes its petro-chemical equivalent.
BioAmber’s succinic acid platform delivers environmentally sound, cost-effective performance materials that can replace petrochemicals in a wide range of applications, including adipic-based polyurethanes, phthalate-based plasticizers and acetate-based deicing solutions. BioAmber’s technology produces succinic acid that competes on cost with fossil fuel derived succinic acid when oil prices are well below $40 per barrel. The technology also sequesters carbon dioxide rather than emitting it.