Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c18305f3-ce19-48e1-bbcc-67974bdc39f8&Preview=1
Date 5/4/2011
Company Name BioAmber
Mailing Address 3850 Annapolis Ln. N. Plymouth, MN 55447
Company Description BioAmber (formerly DNP Green Technology) is a renewable chemistry company. We use agricultural crops and transform them into green chemicals that directly substitute petrochemicals (chemicals derived from fossil fuels).
Proceeds Purposes The fundraising will help BioAmber strengthen its position as the market leader in succinic acid and accelerate the commercialization of biosuccinic and modified PBS, including the construction of a large-scale plant in North America. It will also fund ongoing development work in the field of succinic acid, including the second generation organism being developed with Cargill, the technology licensed from DuPont that converts succinic acid to 1,4-butanediol (BDO), the novel purification process developed and scaled up with MATRIC, and the use of non-food feedstocks to produce biobased succinic acid. BioAmber will also strengthen its management team and build out its in-house R&D capabilities to accelerate the development of its adipic acid platform.