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Business
Lanxess Invests In Succinic Acid Maker
by Melody M. Bomgardner
February 27, 2012
| A version of this story appeared in
Volume 90, Issue 9
Biobased succinic acid producer BioAmber has raised $30 million in a third round of venture funding. Current investors including Naxos Capital and Mitsui & Co. contributed $20 million. Specialty chemical firm Lanxess invested $10 million and will receive a seat on BioAmber’s board. Lanxess owns a site in Ontario that will house BioAmber’s first commercial-scale succinic acid plant. In addition, the firms are working to develop plasticizers based on succinic acid. Last November, BioAmber filed for an initial public offering of stock worth up to $150 million.
The power is now in your (nitrile gloved) hands
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