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year, representing a market size of approximately $ 350 million. However, market research firms and consultants predict that manufacturing bio-succinic acid will make succinic acid economically feasible for use in greater volumes across a spectrum of new applications. A study published in
September 2013 by Transparency Market Research projects that the global market for succinic acid will grow at a CAGR of 19.4% between 2012 and 2018. A study published in August 2012 by
412:(USDOE) published a report on "Top Value-Added Chemicals from Biomass," identifying the top opportunities for the production of chemicals from biomass. The study prioritized twelve chemicals, from a group of over 300 possible building blocks that could be most effectively manufactured from sugars. Bio-succinic acid was recognized as one of the renewable building block chemicals with the greatest technical feasibility and commercial potential.
35:
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Historically, the high cost of producing succinic acid from petroleum feedstock limited its use to a narrow range of applications such as pharmaceuticals and food ingredients. As a result, based on 2011 estimates, the market for petroleum-based succinic acid was approximately 51,000 metric tons per
374:
BioAmber established a joint venture with Mitsui & Co. to build and operate a bio-succinic acid plant in Sarnia, Ontario with a manufacturing capacity of 30,000 metric tons (66,000,000 lb) per year, with BioAmber owning 60% of the venture. The facility began construction in August 2013 and
191:
under the same symbol. Bioamber officially ceased operations in August 2018', all directors of the company resigned & PriceWaterhouseCoopers proceeded forward in court authorized control of the company's fate. BioAmber no longer has any offices or facilities in Canada or the United States after
370:
BioAmber produced bio-based succinic acid from
January 2010 to December 2014 at a large demonstration plant owned and operated by the company's former joint venture partner, ARD. The demonstration plant operated at the 350,000 liter fermenter scale, which at the time was one of the largest scale
346:. The first step in that route converts MA to succinic acid; thus succinic is an alternative feedstock. JM Davy has adjusted its process and tested BioAmber's bio-succinic acid so it can substitute maleic anhydride without impacting performance, process economics or product quality.
371:
fermentations among start-up companies in the field of bio-based chemicals. BioAmber claim to have gained extensive experience from operating this plant for five years and incorporated the learning and improvements into the design of its commercial plant in Sarnia, Canada.
338:(THF). JM Davy is reportedly the global leader in BDO and THF technology, with 14 licenses deployed representing approximately 800,000 tons per year of installed BDO and THF capacity, or 25% of worldwide capacity. Their technology produced BDO/THF from
311:. Cargill modified that strain for the production of lactic acid and has been using that new yeast strain at commercial scale since 2009. BioAmber collaborated with Cargill to develop from the original strain a new one that could ferment at a low
235:
Ventures and the
Cliffton Group. In 2011 and 2012, Naxos Capital Partners and Lanxess became investors in the company, which raised a total of $ 87 million over three rounds of financing between 2009 and 2012. In May 2013, BioAmber completed its
444:
that combines excellent mechanical and electrical properties with robust chemical resistance. The automotive and electronics industries heavily rely on PBT to produce connectors, insulators, wheel covers, gearshift knobs and reinforcing beams.
382:
BioAmber's
Integrated Management Systems in Sarnia were ISO 9001:2008 registered, ISO 14001:2004 registered, BS OHSAS 18001:2007 registered, and FSSC 22000 registered within four months of operational start-up.
287:" submitted by Deepak Dugar, the President of Visolis, LCY Biosciences intends to own and continue to operate the bio-based succinic acid plant at Sarnia with the addition of viable alternative products added.
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projects that the succinic acid market will grow at a compounded annual growth rate of between 25% and 30% through 2020, when the global market size is expected to be between 500,000 and 700,000 metric tons.
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Succinic acid is a platform chemical that can be used in a broad range of markets, from high value niche applications such as personal care products and food additives, to large volume applications such as
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196:) the USA Financial Regulatory Authority officially suspended the company's CUSIP registration thus finalizing the outcome for Bioamber & delisting it from all tradeable stock exchanges.
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completion of a CCAA Insolvency / USA Chapter 15 foreign arrangement, in which the company was liquidated & all major assets were sold off. On
November 22, 2019, FINRA, (
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protection in Canada, with the intent of restructuring the company. After failure to secure additional financing could not be negotiated, the proceedings moved to a US
155:
was a
Delaware (USA) registered Canadian sustainable chemicals company that was headquartered in Montreal, Quebec, Canada. Its proprietary technology platform combined
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in a $ 1.56 billion acquisition which saw LCY itself taken "private". The KKR / LCY transaction closed at the end of
January 2019. According to a letter of intent, "
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On
October 22, 2018, under the CCAA / USA Chapter 15, a transaction occurred for substantially all of BioAmber's assets between BioAmber and LCY Biosciences "
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279:", the designated purchaser in the joint venture formed between Visolis and LCY Chemical Corp. In a turn of events, LCY Chemical Corp was itself acquired by
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BioAmber was established in 2008 as a result of a spin-off from New York-based
Diversified Natural Products (DNP). The company was originally named
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323:. BioAmber had designed its former commercial plant in Sarnia for the production of bio-based succinic acid to operate with its yeast technology.
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BioAmber had a license from
Johnson Matthey Davy Technologies a catalyst technology that converts bio-based succinic acid into bio-based
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under the symbol BIOA, raising $ 80 million in gross proceeds and issuing warrants for an additional $ 44 million in common stock.
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1096:"Biobased succinic acid going commercial: BioAmber wins Bio-renewable Chemicals Technology Award 2009 from Frost & Sullivan"
820:
1030:"Top Value Added Chemicals from Biomass, Volume 1: Results of Screening for Potential Candidates from Sugars and Synthesis Gas"
220:. In 2010, DNP Green Technology acquired 100 percent of the joint venture from ARD and changed its corporate name to BioAmber.
774:
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After the company was spun off from DNP, it was privately financed in 2009' by a group of institutional investors led by
1121:"2011 Small Business Award: BioAmber Inc. - Integrated Production and Downstream Applications of Biobased Succinic Acid"
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with France-based Agro-Industrie Recherches et DĂ©veloppements (ARD) to develop and commercialize bio-based
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141 million and it created 60 full-time jobs. It is the world's largest bio-based succinic acid plant.
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2012 Biotech Canada Gold Leaf Award - Early Stage Company of the Year: Industrial & Agricultural
1054:"Succinic Acid Market is Expected to Reach USD 836.2 Million by 2018: Transparency Market Research"
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The use of fermentation to produce building block chemicals offers the prospect of an improved
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and tolerate high concentrations of succinic acid, giving it a distinct advantage over other
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307:. Cargill originally identified a yeast strain that has the ability to ferment at a low
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into building block chemicals for use in a wide variety of everyday products including
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between May 2013 and February 2018, under the symbol BIOA. It was also listed on the
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1123:. United States Environmental Protection Agency. June 20, 2011. Archived from
978:"BioAmber Sarnia Certified to ISO 9001, ISO 14001, OHSAS 18001 and FSSC 22000"
296:
594:"BioAmber Closes $ 45 Million Series B to Fund Succinic and Adipic Platforms"
615:"BioAmber Closes $ 30 Million Financing with LANXESS and Existing Investors"
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began commercial operations in November 2015. The cost of construction was
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891:"Mitsui & Co. Invests Additional $ CDN25 Million in BioAmber Sarnia"
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1146:"BioAmber Wins ICIS Innovation Award for Best Business Innovation"
726:"Sarnia still in the running to host $ 500-million BioAmber plant"
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657:"BioAmber Inc., Bioamber Canada Inc. & Bioamber Sarnia Inc"
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On May 4, 2018, BioAmber filed for bankruptcy protection under
193:
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and printing inks for plastics. PBT is an engineering-grade
1225:(3)PWC Monitor Report with unsealed documents + Asset list *
702:. Canadian Biomass Magazine. October 1, 2013. Archived from
636:"BioAmber Inc. Announces Pricing of Initial Public Offering"
867:"Ground-breaking for new Sarnia plant expected this summer"
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The major uses of 1,4 BDO are in the production of THF and
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of the company. The court monitor overseeing the case was
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Companies formerly listed on the New York Stock Exchange
700:"BioAmber reaches milestone in succinic acid production"
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Companies formerly listed on the Toronto Stock Exchange
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Companies that filed for Chapter 11 bankruptcy in 2018
1219:(1)SEC 8K resignation of BioAmber Board Of Directors *
750:"BioAmber Produces Bio-based 1,4-Butanediol (1,4-BDO)"
949:"World's Largest Biobased Succinic Acid Plant Opens"
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than the petrochemical route to the same chemicals.
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920:"New Sarnia plant has begun shipping to customers"
679:"Cargill wins 2010 Industrial Biotechnology Award"
847:. Securities and Exchange Commission. May 9, 2013
1098:. Bio-Based News. April 17, 2009. Archived from
1010:. Securities and Exchange Commission. 9 May 2013
775:"BioAmber partners with JM Davy for bio-BDO/THF"
330:(BDO). The technology involves the vapor phase
285:Letter of Intent for Investment in BioAmber Inc.
247:
212:. Prior to the spin-off, DNP had established a
1035:. U.S. Department of Energy. November 1, 2004
295:BioAmber produced bio-based succinic acid by
8:
1253:Biotechnology companies of the United States
465:Presidential Green Chemistry Challenge Award
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1263:Biotechnology companies established in 2008
800:"ARD Bio-Based Succinic Acid Plant, France"
248:Companies' Creditors Arrangement Act (CCAA)
821:"Is BioAmber a Good Long-Term Investment?"
33:
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1192:"Environmental Leader Technology Reviews"
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458:Biorenewable Chemicals Technology Award
299:sugars. The company used a proprietary
1197:. Environmental Leader. Archived from
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542:De Guzman, Doris (November 16, 2010).
303:that it has exclusively licensed from
183:products. BioAmber was listed on the
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408:, resins and coatings. In 2004, the
334:of succinic acid ester into BDO and
1222:(2)PWC Insolvency Trustee reports *
478:2013 4.5 Stars Environmental Leader
773:De Guzman, Doris (20 April 2015).
418:Roland Berger Strategy Consultants
410:United States Department of Energy
25:
1273:Biotechnology companies of Canada
1268:2008 establishments in New Jersey
428:, or PBT. THF is used to produce
1167:"Emerging Company - Ind.&Ag"
955:. August 7, 2015. Archived from
918:Morden, Paul (6 November 2015).
681:. Agri Marketing. March 24, 2010
617:. PR Newswire. February 22, 2012
1148:. PR Newswire. October 17, 2011
865:Morden, Paul (June 14, 2013).
819:Chatsko, Maxx (May 30, 2013).
497:"Chemistry Inspired by Nature"
472:Best Business Innovation Award
146:, bio-based disodium succinate
1:
1288:2013 initial public offerings
1169:. BIOTECanada. Archived from
752:. PR Newswire. March 27, 2012
724:Kula, Tyler (April 9, 2015).
659:. PwC Canada. January 8, 2019
432:fibers and other performance
544:"DNP Green becomes BioAmber"
319:producing succinic acid via
522:"BioAmber Inc. (BIOAU) IPO"
256:in the US and entered into
194:https://www.finra.org/about
1309:
638:. PR Newswire. May 9, 2013
596:. PR Newswire. May 4, 2011
499:. BioAmber. Archived from
426:polybutylene terephthalate
130:PWC PriceWaterhouseCoopers
120:Chapter 15 USA Bankruptcy
32:
1056:. PRWeb. October 2, 2013
157:industrial biotechnology
242:New York Stock Exchange
238:initial public offering
185:New York Stock Exchange
1075:"1,4-Butanediol (BDO)"
270:PriceWaterhouseCoopers
189:Toronto Stock Exchange
210:Princeton, New Jersey
163:to convert renewable
959:on November 17, 2015
953:Environmental Leader
779:Green Chemicals Blog
456:Frost & Sullivan
264:bankruptcy and CCAA
206:DNP Green Technology
110:Montreal, QC, Canada
924:The Sarnia Observer
897:. February 10, 2016
871:The Sarnia Observer
730:The Sarnia Observer
71:renewable chemicals
29:
984:. January 14, 2016
554:on October 4, 2013
1237:Corporate Website
1077:. Lyondell Basell
928:Postmedia Network
573:"Venture Capital"
208:and was based in
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340:maleic anhydride
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142:, bio-based
107:Headquarters
42:Company type
18:BioAmber Inc
1014:11 November
933:17 November
895:PR Newswire
784:17 November
394:bioplastics
266:liquidation
116:Area served
1247:Categories
1239:- defunct.
1208:2016-08-15
1177:2015-12-03
1152:2013-11-12
1131:2013-11-12
1106:2013-11-12
1081:2013-11-12
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805:2013-11-12
756:2013-11-12
735:2015-11-17
710:2013-11-12
685:2015-12-03
663:8 February
642:2013-10-01
621:2013-10-01
600:2013-10-01
579:2013-10-01
558:2013-10-01
528:2015-12-03
507:2013-11-11
483:References
436:, resins,
358:and lower
297:fermenting
291:Technology
262:Chapter 15
254:Chapter 11
227:Partners,
138:bio-based
126:Key people
225:Sofinnova
165:feedstock
161:catalysis
52:Traded as
524:. Nadsaq
463:U.S. EPA
438:solvents
434:polymers
398:pigments
169:plastics
135:Products
102:Bankrupt
68:Industry
58:OTC Pink
430:spandex
387:Markets
305:Cargill
240:on the
233:Samsung
200:History
89: (
84:Defunct
76:Founded
449:Awards
173:resins
1202:(PDF)
1195:(PDF)
1033:(PDF)
468:2011
461:2011
454:2009
301:yeast
62:BIOAQ
1016:2013
935:2015
786:2015
665:2019
548:ICIS
470:ICIS
377:US$
342:, a
277:LCYB
258:CCAA
179:and
99:Fate
91:2018
87:2018
79:2008
281:KKR
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313:pH
309:pH
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