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BioAmber secures C$20-million loan for Sarnia biobased succinic acid project

1:28 PM MDT | June 24, 2014 | Francinia Protti-Alvarez

BioAmber's (Minneapolis) Canadian subsidiary, a joint venture with Mitsui & Co., has secured a C$20-million ($18.6 million) commercial loan from a financial consortium led by Export Development Canada and including Farm Credit Canada and Comerica Bank, BioAmber says. The loan will be used to finance the completion, start-up, and commissioning of a plant at Sarnia, ON, BioAmber adds. The 30,000-m.t./year plant, when completed in early 2015, will be the world's largest biobased succinic acid production facility. It will convert agricultural products sourced in...

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