News International Sugar Journal

BioAmber secures C$20 million to build biosuccinic acid plant in Canada [Registered]

The biotech start-up BioAmber recently announced that its Canadian subsidiary BioAmber Sarnia Inc., a joint venture with Mitsui & Co., has secured a CAD$20 million (U$ 18.6 million) commercial loan to finance the ongoing construction of the Sarnia plant in Ontario, Canada. The loan was financed consortium led by Export Development Canada and including Farm Credit Canada and Comerica Bank. The Sarnia plant is scheduled to be completed in 2015. BioAmber claims, when operational, it will be the world’s largest biobased succinic acid production facility with a capacity of 30,000t per annum. Plant based sugar, namely glucose, is the main…

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