PRINCETON, NJ, March 25 /CNW/ - DNP Green Technology and GreenField Ethanol announced a partnership to build a $ 50 million biobased succinic acid refinery that will produce a new generation of environmentally friendly de-icing solutions. The succinic acid technology will be licensed from Bioamber. This innovative, biorenewable de-icer has a negative carbon footprint and is less corrosive than traditional de-icers.
Under the terms of the Letter of Intent, DNP Green and GreenField will select a location to build the succinic acid refinery, secure government support and finalize commercial agreements. The partners plan to form a joint venture later this year and negotiate a license from Bioamber. GreenField will build and operate the refinery and DNP Green will hold a significant equity stake. The preferred location is GreenField's shovel-ready site in Hensall, Ontario, Canada.
The joint venture will produce its next generation de-icer from grain derived glucose. This biobased de-icer dramatically reduces corrosion to roads, airport runways and aircraft carbon brakes than currently available de-icer solutions. This patent protected de-icer also meets FAA standards (AMS 1435) and has a negative carbon footprint. The joint venture plans to work with distributors in the various market segments, including Basic Solutions, a provider of innovative runway de-icing solutions.
"We are pleased to announce our intentions with DNP Green Technology. Adding a biobased deicer refinery to our operations is the start of the realization of the bio-refinery potential of GreenField's extensive grain ethanol operations," said Bob Gallant President and CEO, of GreenField Ethanol. "Bio-refineries will be the 21st century, future-friendly equivalent of a traditional oil refinery. Succinic acid de-icers and fuel ethanol are just a few of the solutions bio-refineries will create to meet some of the greatest challenges our world faces. This new de-icer refinery will help decrease greenhouse gas emissions, reduce our fossil fuel dependence and will create economic benefits to the community of Hensall, Ontario, Canada," added Gallant. GreenField operates four ethanol refineries in Canada.
"This is an important milestone in the evolution of biobased chemicals", said Jean-Francois Huc, President of DNP Green. "We will be North America's first commercial venture to produce renewable succinic acid. Our initiative illustrates that biobased chemicals are complementary to renewable fuels and a natural evolution for ethanol companies committed to reducing oil dependence, reversing climate change and creating green jobs. DNP Green is excited about the prospect of working with GreenField Ethanol, a pioneer and leader in sustainable technologies."
About GreenField Ethanol
GreenField Ethanol Inc. is Canada's leading ethanol producer. The company produces over 500 million litres a year of ethanol. GreenField produces fuel ethanol at its plants in Johnstown, Chatham and Tiverton, Ontario and Varennes, Quebec. GreenField operates a state-of-the-art cellulosic biochemical ethanol pilot facility in Chatham, Ontario and has a partnership with Enerkem Inc. to build thermo chemical cellulosic ethanol plants. GreenField's industrial bulk and industrial alcohol facilities are in Canada and the USA. For more information, visit www.greenfieldethanol.com.
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 biobased succinic acid and derivatives including modified PBS, a biodegradable polymer. 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., Shanghai, China and Montreal, Canada. For more information, visit www.dnpgreen.com.
Bioamber is the joint venture between DNP Green Technology and France-based Agro-recherches et Developpement (ARD) that is dedicated to succinic acid. Bioamber possesses the only biobased succinic acid technology that has been proven at a commercial scale. Bioamber recently commissioned the world's first biobased succinic acid plant in Pomacle, France.
SOURCE BioAmber Inc.
For further information: For further information: Mike Hartmann, Vice-President Corporate, DNP Green Technology, (514) 844-8000, ext 120, email@example.com; Debra Conlon, Director, Corporate Communications, GreenField Ethanol, (416) 304-1700, ext 8447, firstname.lastname@example.org