BioAmber Inc. recently announced that its joint venture with Mitsui & Co. has achieved the final operational milestone set out in a CAD$20 million commercial loan that the joint venture drew down in 2015. BioAmber Sarnia demonstrated performance levels validating commercial operation, as defined in its loan agreement with Comerica Bank, Export Development Canada and Farm Credit Canada.
The performance indicators for the Sarnia manufacturing facility included the overall efficiency of BioAmber’s proprietary biotechnology in fermentation, the plant’s throughput and output in continuous operation, and the quality of the final product. This milestone is further evidence that the Sarnia plant is operating well, as recently disclosed in BioAmber’s Q2 2016 operating results. Read the full Biomass Magazine article here.