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Markets :: Alternative Fuels :: Biorefineries
BioAmber reports loss, says Sarnia plant is 85% complete
3:11 PM MDT | August 7, 2014 | Rebecca Coons
Biobased succinic acid firm BioAmber (Minneapolis) reports a net loss of $14.1 million for its fiscal second quarter, compared to a net loss of $7.2 million in the year-ago quarter. Sales slipped 59.6%, to $415 million. The decrease was principally due to sales to two customers in 2013 quarter that will not recur until BioAmber’s first large-scale asset, a 30,000 m.t./year biobased succinic acid facility at Sarnia, ON, comes on line in early 2015. Excluding these one-time sales, the volume sold in the second quarter of 2014 was 40% higher than the...
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