In Minnesota, biochemicals company BioAmber reported record quarterly revenue for Q2 reaching $4.1 million for its sales of biosuccinic acid citing new customers and new applications. The record revenue is a 64% increase compared to Q2 2016 and 94% increase compared to Q1 2017. Mike Hartmann, President of BioAmber Sarnia also talked about plans to develop a second biorefinery in North America saying they are in discussions with the U.S. DOE and a working group in Canada.
BioAmber also announced an agreement to purchase Mitsui & Co. Ltd’s minority equity position in the joint venture, leading to BioAmber to own 100% of the Sarnia location. Mitsui will continue to distribute BioAmber’s biosuccinic acid. Check out the Biofuel Digest’s Multi-Slide Guide to BioAmber from earlier this year.