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The biobased succinic acid firm BioAmber, which filed for bankruptcy protection in May, has not found a buyer and now plans to liquidate its assets, including its commercial-scale fermentation plant in Sarnia, Ontario. The assets will be auctioned off over a two-week period in August. BioAmber was a pioneer in making chemical intermediates from sugar rather than petroleum, but it struggled under debt incurred for the plant in addition to years of low oil prices that made competing products less expensive.
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