PRINCETON, NJ, Feb. 4 /CNW Telbec/ - DNP Green Technology has acquired a controlling stake in Sinoven Biopolymers Inc., a private US company. Under the terms of the agreement, Sinoven Biopolymers will operate as a subsidiary of DNP Green Technology with a sales office in Philadelphia, PA and a manufacturing and formulation development facility in Shanghai, China.
Sinoven Biopolymers has proprietary technology for modifying polybutylene succinate (PBS), giving it unique properties that other biodegradable polymers do not offer. These include heat resistance above 100 degrees C, excellent strength and the ability to be processed in existing production equipment. Sinoven Biopolymers currently sources PBS from third parties and subsequently modifies it.
"This acquisition will accelerate our top-line growth and help DNP Green move down the value chain. With the acquisition of Sinoven, DNP Green can now transform corn and other crops into a diverse range of renewable, biodegradable products, from coffee cup lids and disposable razors to automotive parts." said Jean-Francois Huc, President of DNP Green Technology. "This acquisition also gives us a solid presence in China, which we consider an important strategic market" he added.
"This acquisition will help Sinoven Biopolymers to leverage low cost succinic acid and 1,4 butanediol produced by DNP Green, which in turn will drive down the cost of our modified PBS and open up vast new markets for our biodegradable plastics", added Ray Balee, President of Sinoven Biopolymers.
About DNP Green Technology
DNP Green Technology is a private US company that produces renewable chemicals. Through numerous scientific and business partnerships, DNP Green Technology has built an extensive IP portfolio and know-how covering the production, purification and uses of succinic acid and its derivatives. DNP Green Technology has established a joint venture, known as Bioamber, to scale up and commercialize its succinic acid technology. DNP Green is actively developing other bio-based chemical platforms, leveraging industrial biotechnology and chemical synthesis to produce renewable chemicals and bio-based materials. The company has offices in Princeton, N.J. and Montreal, Canada.
About Sinoven Biopolymers
Sinoven Biopolymers, Inc. (SBI) is a private US company that produces high performance biodegradable polybutylene succinate (PBS) based plastic. With its proprietary technology and extensive composite portfolio, SBI tailors cost effective products for industries, including foodservice, consumer use, medical, electronics and automotive. The company has production facilities in Shanghai, China and offices in Philadelphia, PA, Shanghai and Beijing, China.
SOURCE BioAmber Inc.
For further information: For further information: Mike Hartmann, Vice-President Corporate, DNP Green Technology, (514) 844-8000, ext 120, firstname.lastname@example.org; www.dnpgreen.com