BioAmber starts to commission the Sarnia Commercial Plant

One of the leading industrial biotechnology companies on international level, BioAmber Inc. made an announcement for beginning of commissioning the bio-succinic acid plant situated in Sarnia, Ontario, Canada. The plant bears 30K MT capacity; start up of the plant may take about five months with the service of commercial operation. The project costs US$125 million as per an approximate budget +/- 10 percent.

Read more about the news here - http://www.bioplasticsmagazine.com/en/news/meldungen/20150304-BioAmber-commissioning-Sarnia-plant.php

The Company expects construction to be completed in two months and it is carrying out commissioning and start-up activities in parallel. The cost of the project continues to track within the original budget estimate of US$125 million +/- 10%. CEO of the company, Jean-Francois states that this is an important step for BioAmber that will start a period of swift growth. Further he adds that the commissioning phase will involve testing of the plant and start up of sales of products in order to meet goals. During this period, the company will also plan seeking reliable customers for take-or-pay contracts.

This new plant in Sarnia will become the biggest manufacturing unit of succinic acid of the world. The company has signed multiple supply agreements with non binding volume commitments increasing the capacity of the plant.

BioAmber Inc. to welcome Francois Laurin as new CFO

Production of sustainable chemicals in Minneapolis by BioAmber Inc. has declared retirement of CFO Andrew Ashworth on Dec. 2014. Francois Laurin is to be posted as the new Chief Financial Officers. Andrew stayed in the post of CFO for over three years,, he worked instrumentally in preparation of BioAmber for the beginning public offering. He continued in an advisory role to BioAmber during the first half of 2015 so that transitions in the company can be planned smoothly.

Read more about this news here at - http://www.bioplasticsmagazine.com/en/news/meldungen/20150107-BioAmber-CFO.php

On the other hand, Francois Laurin has worked as CFO of Alderon Ore Corp, a mining company in development stage. He is also former CFO of Consolidated Thompson Iron Mines where he contributed a lot for growth of the company. Being a professional chartered accountant and financial analyst, Francois possesses dynamics of promoting financial strength of the company.  Earlier, he held senior financial position at Caisse de Depot du Quebec, Teleglobe and Bombardier. 

CEO of BioAmber, JF Huc stated that Andrew worked well for the company and guided excellently in IPO efforts. Welcoming Francois as new CFO is a pleasant experience as he possesses good experience in financial matter. He will definitely lead the company towards next stage of growth.

BioAmber and Vinmar international to sign 15 year contract on succinic acid

BioAmber declared today to sign up a take or pay contract of 210,000 per year with Vinmar International. The leading industrial biotechnology company signed this contract for biosuccinic acid under rules of 15 year agreement. According to the contract, the joint venture of Mitsui & Co. and BioAmber, BioAmber Sarnia commits to sell 10K tons of succinic acid per annum through the 30,000 ton per year capacity while Vinmar commits to purchase the same. This 15 year agreement of production and sales of succinic acid is based upon the under constructed plant in Sarnia which will offer production facilities to BioAmber.

Read more on this matter here at -  http://www.cbs8.com/story/25958659/bioamber-signs-take-or-pay-contract-for-three-bio-succinic-acid-plants

The under constructed plant for the production of biosuccinic acid is the part of this master take off agreement  which will undergo expansion up to annual capacity of 70K ton of bio-succinic acid and100K tons of bio BDO. Alternatively, Vinmar can secure extra bio-succinic acid tonnage under the take-or-pay contract in case BioAmber does not commits rest of the volume at the time financing of the plant becomes secured.

In the projected plant for biosuccinic acid, Vinmar plans to invest 10 percent of the equity; BioAmber expects to start the plant till 2020on the basis of projected development of the succinic acid industry.

Bio-Succinic Acid Contract Signed Between PTT-MCC and Bioamber

BioAmber is joining hand with PTT-MCC Biochem for its first succinic acid take or pay contract; in 2011, this collaboration was formed between PTT Public Company Limited of Thailand and Mitsubishi Chemical Corporation. Establishment of PTT-MCC for formation of development of PBS (Polybutylene Succinate), this is a biodegradable plastic developed with butanediol and succinic acid. Currently, this company is developing its first PBS plant in Rayong, Thailand. According to the expectation, the PBS plant will be ready for operations till 2015; it will consume about 14 ktpa of succinic acid while its capacity will be of 20 ktpa. On other hand, BioAmber is planning to start up its 30 ktpa bio succinic acid plant in Canada, Sarnia and Ontario. Read more about the deal here - http://greenchemicalsblog.com/2014/05/19/ptt-mcc-signs-bio-succinic-acid-contract-with-bioamber/

Analysis of the current PBS market from the aspect of Tecnon OrbiChem, the current PBS manufacturers shows that many challenges are there in the market nowadays. As per the BioAmber’s recent report, engineering for the plant is about to complete and 95 percent of all equipments has been ordered for timely delivery. The Sarnia project is going well from schedule and budget point of view. In this way, BioAmber will be able to supply minimum of 80 percent (11.2 ktpa) of biosuccinic acid required by PTT-MCC; this will be possible after commissioning of PTT-MCC’s PBS plant and Sarnia biosuccinic acid plant.
 

BDO TAKE-OR-PAY CONTRACT SIGNED BETWEEN BIOAMBER AND VINMAR

Bioamber has signed a contract for planned BDO plant for 15 years to sell the 10,000 ton output from the plant. This agreement has been signed between BioAmber and Vinmar and the partnership is based upon the process of BDO technology and its economical impact.  Along with the Sarnia plant, the agreement utilizes commercial foundation. The financing of BDO facility will be facilitated by the equity participation and off take obligation by Vinmar.  Read full story about the deal here –  http://www.mediawebsite.net/kgo/story/?catSetID=7012&catID=291972&nrid=241530281&page=1

This industrial sensation is engaged in production of sustainable chemicals; the company declared that it has signed a take or pay contract with Vinmar international under terms of 15 years master off take agreement.  On other hand, Vinmar is now committed to shop 100 percent of the BDO production planned by BioAmber, of the plant which is being planned to be set u pin North America. Both of the partners will invest in establishment and development of the plant.

BDO which is being used for building block chemical for engineering plastics in automotive industry, polyurethanes and biodegradable components will be combined with succinic acid technology and catalyst method by BioAmber for a cost effective production. According to the commissioning, financing and construction agreement plans, Vinmar will purchase all the BDO produced for next 15 years in the plant.

World’s largest bio-succinic acid plant to produce 30,000 tons annually from 2015

Mitsui & Co. Ltd. along with industrial biotech company BioAmber Inc have come to the decision that the annual yield of their first bio-based succinic acid plant called Plant, which will be the largest in the world and will begin functioning by 2015, will be 30,000 tons. Mitsui and BioAmber have combined to form BioAmber Sarnia in order to manufacture bio-succinic acid with the help of yeast technology licensed by the American company Cargill exclusively to BioAmber. The global demand for bio-succinic acid has prompted the decision to produce 30,000 tons annually and the Plant is capable of being expanded to 50,000 tons. The raw materials required for the production process are readily available in the area where the Plant is being constructed. All these factors are going to make the product for BioAmber Sarnia extremely cost effective.

Mitsui is committed to further the environmental cause and is promoting the Plant as a strategic investment for a better future. The Plant offers a better way of life which is eco-friendly, safe and healthy. Bio-succinic acid can be applied in the manufacture of biodegradable plastics, personal care products and polyurethanes. With BioAmber on its side, Mitsui will continue to expand bio-succinic acid facilities and will consider diversification of production into derivatives.

Source: http://www.jpubb.com/en/press/73650/

BioAmber aiming at 100ktpa bio-BDO production by 2017 – Vinmar International purchases right to market and distribute it

With an excellent business take-or-pay contract with Vinmar, BioAmber is ready to build its new bio-BDO plant in North America which is to be commissioned in 2017. This new plant will boast of bio-BDO production capacity of 100 ktpa and the contract allows Vinmar International to get all bio-BDO produced at this facility for the next 15 years. It should be noted here that Vinmar International is a private company located in Houstan and is known for distribution, project development and marketing endeavors. Vinmar is also interested in investing some capital for the erection of this new facility, which is near to 10% minority equity stake. Apart from it, this company has earned the right to secure 100% off-take and investing refusal through this treaty in the future if any other bio-BDO plant is build by BioAmber.

Of course, Vinmar is now eligible to buy the plant output and sell it in the market with its vast database of chemical consumers, which will certainly strengthen and optimize the global logistics. No doubt, with its vast previous experience in BDO product marketing and distribution, Vinmar is supposed to offer BDO at competitive price to the interested consumers with increased carbon footprint. According to site http://greenchemicalsblog.com/2014/01/23/bioamber-vinmar-on-a-100ktpa-bio-bdo-plant/, BioAmber is targeting initial production of 4000 tpa of bio-BDO in US at toll manufacturing facility which would be commissioned in 2015. It will make use of the bio-succinic acid as the raw material which will come from Sarnia, Canada and this BDO production will be also purchased completely by Vinmar.

Future scopes for increased distribution of Bio-succinic acid in Europe as IMCD partners with BioAmber

The Plant Based Summit, recently held in Paris, was a great opportunity for IMCD to buildup image and contacts in the specialty products industry because it signaled partnership with BioAmber, a company with next-generation moves and innovations to produce everyday products from plant materials and stocks. This very partnership of IMCD strongly favors the distribution of bio-succinic acid for different purposes in Europe that include coatings, resins and synthesis. The move can be considered as an excellent window to commercialize the green solutions offered in the markets of personal care, plastics, food industry, coatings and synthesis of different products of daily use. It is compulsory to mention here that IMCD has achieved a consistent portfolio to offer bio based solutions in specialty product development and distribution.

Petro based products have received more focus on renewable alternatives which are ought to get seven synergetic suppliers to the business of coatings and resins. On the other hand, BioAmber has got a great profile record in the business of offering natural Bio-Succinic acid to specialty product developers. One of the greatest aspects of this partnership deals is that IMCD will be capable of offering more comprehensive and tailored solutions along with the excellent distribution management technique in Africa, Asia Pacific and Europe, with great focus on bio-chemicals.