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June 23, 2014
07:37 EDTBIOABioAmber secures C$20M loan for Sarnia plant
BioAmber announced that its Canadian subsidiary BioAmber Sarnia, a joint venture with Mitsui & Co., has secured a C$20M commercial loan from a financial consortium led by Export Development Canada and including Farm Credit Canada and Comerica Bank. The C$20M senior secured loan will bear interest at an initial rate of 8%, tied to an agreed-on floating rate calculation from disbursement. When completed, the plant will convert Canadian agricultural products into bio-based succinic acid, a value added building block chemical that is used in a wide variety of everyday products. BioAmber projects that over 90% of the 30,000 MT annual capacity will be exported.
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March 3, 2015
07:04 EDTBIOABioAmber initates comissioning activities for its plant in Sarnia
BioAmber announced it has initiated commissioning activities for its 30,000 MT capacity bio-succinic acid plant located in Sarnia, Ontario, Canada. Commissioning and start-up is expected to take approximately five months, with the facility being in commercial operation in Q3 2015. The Company expects construction to be completed in two months and it is carrying out commissioning and start-up activities in parallel. The cost of the project continues to track within the original budget estimate of $125M +/- 10%.

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