ERJ staff report (DS)
Leverkusen - Lanxess is investing $10 million in US company BioAmber, Inc., based in Minneapolis, Minnesota, US, as part of a private placement.
BioAmber manufactures bio-based succinic acid in Pomacle, France, at a plant with 3,000 metric tons of capacity per year.
BioAmber plans to add a further 17,000 metric tons of capacity from 2013 with a new world-scale manufacturing facility to be built in Sarnia, Ontario, Canada, at Lanxess' site there. Both companies are preparing agreements for Lanxess to provide BioAmber with the land as well as the utilities and services needed to operate the facility.
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Press release from Lanxess