Reverdia has announced that it has signed a non-assert agreement concerning its Biosuccinium technology with BioAmber Inc. Both BioAmber and Reverdia are both involved in the production and commercialization of bio-based succinic acid using their own unique proprietary yeast-based technologies.
Netherlands-based Reverdia, a joint venture between Netherlands-headed Royal DSM, a global Life Sciences and Materials Sciences company, and France-headed Roquette Frères, a global starch and starch-derivatives company for the production, commercialization and market development of Biosuccinium, sustainable succinic acid, has announced that it has signed a non-assert agreement concerning its Biosuccinium technology with BioAmber Inc.
Pursuant to the key provisions of the agreement, BioAmber will benefit from non-assertion covenants with respect to certain intellectual property rights of Reverdia in the field of bio-based succinic acid, in exchange for undisclosed financial consideration.
Furthermore, the agreement provides comfort to both BioAmber and Reverdia to continue the implementation of their respective businesses using their own unique, proprietary yeast-based technologies.
In today’s increasingly complex intellectual property environment, the conclusion of this agreement illustrates how two proactive companies operating in the same field can find a constructive solution that allows them to focus on the execution of their respective business plans rather than seeking confrontation and conflict. It allows BioAmber to eliminate the risk of litigation and uncertainty at a predictable cost, said Jean-Francois Huc, CEO, BioAmber.
Both BioAmber and Reverdia are involved in the production and commercialization of bio-based succinic acid using their own unique proprietary yeast-based technologies.
Canada-headed BioAmber Inc operates a 30 000 tonne per annum bio-succinic production facility in Sarnia, Ontario whereas Reverdia operates a 10 000 tonne per annum plant in Cassano Spinola, Italy.
This Agreement demonstrates that Reverdia’s Biosuccinium low pH yeast technology is a leading technology in the field of bio-based succinic acid and that by working with partners in the industry, we will speed up the adoption of bio-based materials and validate bio-based succinic acid as a key building block for the bio-based economy. It is our belief that the yeast-based technologies have a significant competitive advantage over bacterial-based technologies for the production of bio-based succinic acid, said Marcel Lubben, President of Reverdia.
Both Marcel Lubben and Jean-Francois Huc believe that the market for succinic acid will benefit from having strong players able to deliver on the rapidly growing demand for bio-plastics, polyurethanes, solvents, coatings and other applications.