In Canada, BioAmber Inc. announced that it filed a voluntary petition for relief under chapter 11 of the United States Bankruptcy Code and that its two Canadian subsidiaries, BioAmber Sarnia Inc. and BioAmber Canada Inc., filed a Notice of Intention (the “NOI”) to make a proposal under the Bankruptcy and Insolvency Act (Canada), with a […]
BioAmber’s Mission? To be a fast growing producer of chemical intermediates that uses sugars instead of fossil fuels and sells competitively priced, sustainable chemicals with strong profit margins and the cleanest environmental footprint in the industry. The latest? “We are pleased to report our second quarter 2017 results generated BioAmber’s largest quarterly revenue ever. Year to […]
While we’ve been busy fleeing Hurricane Irma, it’s been a busy week for the techies running the Digest’s Very Large Gossip Array — the airwaves have been crackling as some familiar faces re-surface. Let’s review. Bayer, Ginkgo’s $100 Million Baby News just arrived from Germany that Bayer and Ginkgo Bioworks will create a new company […]
BioAmber reported an unsurprisingly lackluster sales figure and a Q1 loss of $10.5M compared to a loss of $8.1M for Q1 2016 – unsurprising given the delays at major customer PTT. We covered the fortunatelys and unfortunatelys of this intriguing storyline here. But even better, EVP Mike Hartmann gave this illuminating overview of the technology, markets […]
If you remember the 1981 film Excalibur, there were numerous uses of what was described as the Charm of Making: Anál nathrach, orth’ bháis’s bethad, do chél dénmha Which roughly translates into Modern Bioeconomyese as, “O Lord, give me the power to make lots of succinic acid.” If you’re not chasing biosuccinic or at least […]
In Quebec, BioAmber has priced an underwritten offering of 1,748,750 shares of its common stock at a price of $4.00 per share. The gross proceeds to the Company will be approximately $7.0 million, and net proceeds, after underwriting discounts and commissions and other estimated fees and expenses payable by BioAmber, will be approximately $5.6 million. […]
In Canada, BioAmber is deciding whether to set up a facility in Sarnia six-times bigger than its first installation in the city or to build the $500 million facility in Louisiana. The company has sought a $360 million loan guarantee from the US’s Department of Energy for the facility in Louisiana, but in light of […]
News has arrived from Quebec and we are glad to report it that BioAmber, in its Sarnia succinic acid joint venture with Mitsui & Co., has achieved the final operational milestone set out in a $20 million commercial loan that the joint venture drew down in 2015. It’s worth some detail, before the cheering: BioAmber […]
In Canada, BioAmber recorded net income of $4.8M for Q2 2016 and an operating loss of $1.0M on revenues of $2.5M. Revenues were up 73 percent over Q1 and 637 percent compared to Q2 2015. For those less familiar with the company, it produces succinic acid from sugar at a first commercial-scale plant which opened […]
From the company’s IPO Prospectus: “Our proprietary technology platform combines industrial biotechnology, an innovative purification process and chemical catalysis to convert renewable feedstocks into chemicals that are cost-competitive replacements for petroleum-derived chemicals. The development of our current organism was originally funded by the DOE in the late 1990s, was further developed and scaled up, and optimized at […]
