US BioAmber makes final milestone payment for yeast technology

01 October 2013 15:15  [Source: ICIS news]

HOUSTON (ICIS)--BioAmber has made a final milestone payment to Cargill for a licensed yeast technology to produce succinic acid, the US-based renewable chemicals firm said on Tuesday.

Completion of the milestone after three years of cooperation between BioAmber and Cargill meant that the succinic acid-producing yeast “met performance expectations,” BioAmber said without disclosing financial details. BioAmber licensed the yeast technology from Cargill in 2010.

CEO Jean-Francois Huc added: “This is an important milestone and we plan to continue to work with Cargill to develop alternative feedstock options for our succinic acid platform and to bring to market our adipic acid yeast platform, which we have also licensed exclusively from Cargill."

BioAmber also said that it began work in August on its planned 30,000 tonne/year yeast-based succinic acid facility at Ontario’s petrochemical hub in Sarnia. The company told ICIS earlier that the plant, which it is building in a joint venture with Japan’s Mitsui & Co, is expected to be mechanically completed next year.

By: Stefan Baumgarten
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