Mitsui (Tokyo / Japan; www.mitsuichem.com) has increased its stake in its Sarnia, Ontario / Canada-based bio-succinic acid joint venture with renewable chemistry company BioAmber (Plymouth, Minnesota / USA; www.bio-amber.com). The company in February announced that it is investing another CDN 25m (about EUR 16.2m) in the jv, which will give it a further 10% equity stake, raising its overall share to 40%. The remaining 60% of the common plant – first announced in 2011 (see Plasteurope.com of 15.11.2011) – will remain in the hands of BioAmber.

The 30,000 t/y plant began commercial operations in Q3 last year (see Plasteurope.com of 17.08.2015). When announcing the new ownership structure, BioAmber CEO Jean-Francois Huc said the company is still ramping up production and sales. The financial injection from the Japanese partner will not only strengthen Sarnia’s balance sheet, but will also help commercialise the plant’s output, with Mitsui assuming more responsibilities in this regard, too.