Canada Invests In New Bioamber Commercial Plant To Produce Biobased Succinic Acid

On February, 19, 2014, it was announced that BioAmber Sarnia, Inc. (BioAmber Sarnia) has received a $10 million loan from the Government of Canada to help the company build the largest commercial plant that will produce biobased succinic acid. Funding is being provided under the Canadian Government's AgriInnovation Program, which is an initiative designed to accelerate the pace of innovation by supporting research and development activities in agri-innovations. The BioAmber Sarnia project is expected to create 60 direct and 155 indirect jobs, and help corn farmers by requiring in the first year of production 1.5 million bushels of corn and in future years three million bushels per year. Succinic acid is used to produce a wide range of products, including paints, plastics, resins, and pharmaceuticals. A copy of BioAmber's news release on the announcement is available online.