BioAmber Announces Year End Operational and Financial Results for 2015
MONTREAL, March 14, 2016 /CNW Telbec/ – BioAmber Inc. (NYSE: BIOA), a leader in renewable materials announced operational and financial results for the three months and year ended December 31, 2015. The highlights included:
- Sales of bio-succinic acid in the fourth quarter were $1.1 million, including initial shipments to PTTMCC Biochem, an important off-taker requiring high purity succinic acid to make bioplastic;
- Over 100 companies tested and qualified the bio-succinic acid produced in Sarnia;
- After the quarter, Mitsui & Co. invested $CDN25 million in the Sarnia joint venture, increasing its equity stake from 30% to 40% and committing to play a bigger role in commercialization.