BioAmber

About BioAmber

BioAmber Inc. was a sustainable chemicals company that specialized in converting renewable feedstocks into widely used building block chemicals. The company was established in 2008 as a spin-off from Diversified Natural Products (DNP), initially named DNP Green Technology. In 2010, after acquiring its joint venture partner Agro-Industrie Recherches et Développements (ARD), the company rebranded as BioAmber. Jean-François Huc, who had experience in business development and restructuring at DNP, served as the CEO.

The company's core business revolved around the production of bio-based succinic acid, a platform chemical used in products like plastics, resins, food additives, and personal care items. BioAmber's proprietary technology platform combined industrial biotechnology with chemical catalysis. The process involved the fermentation of renewable feedstocks, such as glucose from corn syrup, using a proprietary yeast strain to produce succinic acid. This method was presented as having a lower carbon footprint and being more energy-efficient compared to traditional petroleum-based production. Revenue was generated from the sale of this bio-succinic acid to industrial clients.

A significant milestone was the construction of the world's largest bio-based succinic acid plant in Sarnia, Ontario, Canada. This US$141 million facility, a joint venture with Mitsui & Co., began commercial operations in November 2015 with a planned manufacturing capacity of 30,000 metric tons per year. The company also had a license for a catalyst technology from Johnson Matthey Davy Technologies to convert its bio-succinic acid into bio-based 1,4-butanediol (BDO) and tetrahydrofuran (THF). BioAmber went public in May 2013, listing on the New York Stock Exchange and the Toronto Stock Exchange. However, after facing a liquidity crisis and failing to secure additional financing, BioAmber filed for bankruptcy protection in May 2018. The company officially ceased operations in August 2018, and its assets, including the Sarnia plant, were liquidated. The Sarnia facility was later acquired by LCY Biosciences in October 2018.