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People & Business :: Emerging Companies

BioAmber and Cargill hit final performance milestone in yeast development pact

2:50 PM MDT | October 1, 2013 | Rebecca Coons

BioAmber (Minneapolis) announced today that the final performance milestone has been met in its biobased succinic acid development agreement with Cargill, triggering a final milestone payment to Cargill. The yeast will be used in BioAmber's first commercial-scale succinic acid plant, currently under construction in Sarnia, Ontario. Financial terms were not disclosed. Jim Millis, BioAmber's CTO, says the milestone is the culmination of three years of joint development with Cargill. "We licensed this yeast in 2010 because we  strongly believed it is the...

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