Roquette acquires DSM's stake in joint venture Reverdia
Royal DSM and Roquette Frères, the parent companies of Reverdia – a joint venture for the production bio-succinic acid under the trademark Biosuccinium, have announced a strategic shift in the continuing operations of their JV. Effective from 1 April 2019, the joint venture will be dissolved and the partners will transfer the rights and obligations related to Reverdia’s plant in Cassano, Italy, to Roquette.
Under a non-exclusive license from DSM, Roquette will operate the plant and continue serving customers with bio-succinic acid. Customer service, order processing, and marketing and sales will be integrated into Roquette’s existing business. DSM, the original developer of the Biosuccinium technology, will assume the role of exclusive licensor to strategic customers and other third parties interested in the integration of the Biosuccinium production process into their value chains. Bio-succinic acid is a platform molecule with applications in a range of large-volume markets. DSM said the technology has matured to a point where the roll-out potential is significant enough to warrant a focused effort on licensing.
Atul Thakrar, President of Bio-based Products and Services at DSM said: “The Reverdia joint venture has proven Biosuccinium technology to be the most sustainable and competitive bio-succinic acid on the market today. We have gone well beyond the start-up phase and the Biosuccinium brand will continue to grow under the leadership of our partner Roquette. This is an example of DSM doing what it does best – establishing market-leading technologies and commercialising them.”
“After the success of the collaboration with DSM through the joint venture, we will integrate the Biosuccinium product line within our global business organisation. Our sales force will continue to support our customers’ growth,” said Bruno Plancke, Vice President of the Industry Global Business Unit at Roquette.