Lanxess Invests In Succinic Acid Maker | Chemical & Engineering News
Volume 90 Issue 9 | p. 19 | Concentrates
Issue Date: February 27, 2012

Lanxess Invests In Succinic Acid Maker

Department: Business
Keywords: succinic acid, bio-based chemicals, plasticizer
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Lanxess will host BioAmber at this plant in Sarnia, Ontario.
Credit: Lanxess
Lanxess’s site in Sarnia, Ontario, which will be the location of BioAmber’s first commercial-scale bio-succinic acid plant.
 
Lanxess will host BioAmber at this plant in Sarnia, Ontario.
Credit: Lanxess

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.

 
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