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LCY Biotechnology, a new company formed by LCY Group and Visolis, has bought the idle BioAmber plant in Sarnia, Ontario. BioAmber built the plant to ferment the chemical intermediate succinic acid from sugar but filed for bankruptcy due to a high debt load. LCY says it hopes to begin producing biobased chemicals via fermentation after about six months, though it may not make succinic acid. LCY is a Taiwanese chemical maker that was recently acquired by the investment company KKR.
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