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Lanxess Invests $10 Million in BioAmber

6:14 AM MST | February 22, 2012 | Sotirios Frantzanas

Lanxess (Leverkusen) says it has invested $10 million in BioAmber (Mineapolis, MN) as a part of a private placement. The investment strengthens Lanxess's commitment to renewable raw materials, the company says. Lanxess has received a minority shareholding in BioAmber, and a seat on the board of directors, which will be filled by Jorge Nagueira, head of Laxess's functional chemical business unit that manufactures phthalate-free plasticizers, the company says. BioAmber is a leader in the production of succinic acid through the fermentation of renewable raw...

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