BioAmber Inc. is a chemical company in the business since the year 2008. The company uses the concept of chemical catalysts and industrial biotechnology segment for converting the feedstock to construction chemicals being used for many products. The company has production of resins, food additives, plastic and many personal care products. The company got listed on the New York Stock Exchange in May 2013 and has been consistently growing its scope and stock presence in the progress. The company is also listed on the Toronto Stock Exchange. The company has a long list of renowned investing companies.
The company was named DNP Green Technology in the beginning and with its joint venture with the French company ARD, the corporate name was changed to BioAmber. The company was privately financed in 2009 and raised a total of three rounds of financing between 2009-12 with Lanxess and Naxos Capital Partners as its investors. The company attained its position in the NYSE market in 2013 which was a great move for the company.
BioAmber Inc. creates the bio-based succinic acid production having processed with the sugar fermentation. The company makes use of the special yeast having an ability to ferment at a lower pH value. BioAmber has established a commercial plant in Sarnia for production of bio-based succinic acid for operating with its exclusive yeast technology. The company has got uplift in the last one year. The 52-week range of the stocks is $ 0.0030- $ 2.88. The company made a joint venture partnership with ARD to produce bio-based succinic acid from January 2010 to December 2014. This was one of the largest scale fermentations at that time and BioAmber staff has got the best experience and learning in this 5-year phase.
Succinic acid is used in many industrial markets including food additives and personal care products. Even the United States Department of Energy published a reporting on ‘Top Value Added Chemicals from Biomass’. There is a great potential of the bio-succinic acid and it is the core product for commercial usage. The high cost of producing succinic acid from petroleum sector discouraged its range of applications in the food and Pharma industry. The market for succinic acid had an economical ground of $ 350 M. However, the production of bio-succinic acid has made economical feasibility of the acid to be used in a wide array of applications.
It is projected that the global market for succinic acid will advance at an upper pace in 2018 as it has shown drastic upgrades in the last five years. In the coming 2 years, the annual compounded rate of succinic acid will grow up to 30 percent from the current value. The usage in polymer resins, printing inks, plastic products and spandex fibers will get highly benefited with this growth. BioAmber will have a great prospect with the due demand of the products in the industrial segment. It is anticipated that the company will grow its position in the stocks in the years to come.