BIOAMBER
CAD 20m loan secured for Canadian bio-based succinic acid plant
Industrial biotechnology company BioAmber (Plymouth, Minnesota / USA; www.bio-amber.com) has said that its Canadian subsidiary, BioAmber Sarnia, has secured a CAD 20m (EUR 13.7m) loan for its bio-based succinic acid production facility at Sarnia, in southwestern Ontario. The loan is from a consortium led by Export Development Canada (www.edc.ca) and includes Farm Credit Canada (www.fcc-fac.ca) and Comerica Bank (www.comerica.com).
The plant will have a capacity of 30,000 t/y and will be the world’s largest bio-based succinic acid production facility, the company says. It is expected to start up in early 2015 and will convert Canadian agricultural products, with over 90% of output being exported.
Earlier this year, BioAmber signed a take-or-pay contract with Thailand's PTTMCC Biochem (Bangkok) for deliveries of bio-succinic acid to Thailand – see Plasteurope.com of 08.05.2014.
The plant will have a capacity of 30,000 t/y and will be the world’s largest bio-based succinic acid production facility, the company says. It is expected to start up in early 2015 and will convert Canadian agricultural products, with over 90% of output being exported.
Earlier this year, BioAmber signed a take-or-pay contract with Thailand's PTTMCC Biochem (Bangkok) for deliveries of bio-succinic acid to Thailand – see Plasteurope.com of 08.05.2014.
26.06.2014 Plasteurope.com [228565-0]
Published on 26.06.2014