BioAmber raises $45m for large N America biosuccinic acid plant

04 May 2011 16:19  [Source: ICIS news]

HOUSTON (ICIS)--BioAmber has raised $45m (€30m) to help commercialise its biosuccinic acid and modified polybutylene succinate, as well as build a large-scale plant in North America, the US-based renewable chemicals company said on Wednesday.

BioAmber did not disclose capacity details or where in North America the plant would be built.

The funds will also support BioAmber’s development work to convert succinic acid to 1,4-butanediol (BDO) and to use non-food feedstocks to produce biobased succinic acid, it said. 

Without disclosing details, the company also said the money would support the development of its adipic acid platform.

Funding was led by European mid-market private equity firm Naxos Capital Partners and BioAmber’s largest shareholder Sofinnova, a European venture capital firm.

Japanese trading company Mitsui & Co participated in the funding round, BioAmber added.

($1 = €0.67)

For a view on the latest sustainability issues, visit Doris de Guzman’s Green Chemicals Blog

By: Stefan Baumgarten
+1 713 525 2653

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