Abstract
RENEWABLE CHEMICALS start-up BioAmber hopes to raise up to $150 million in an initial public offering (IPO) of stock. The firm’s first product is succinic acid, a fermentation-derived intermediate that several other companies are also developing. BioAmber says its industrial biotechnology process yields cost-competitive replacements for petroleum-derived chemicals. Succinic acid can be a raw material for plastics, food additives, and personal care ingredients and a building block for other intermediates including 1,4-butanediol (BDO). BioAmber says it is also developing biobased adipic acid and caprolactam, both used in the production of nylon. In its filing with the Securities & Exchange Commission, BioAmber says it has made 221 metric tons of biobased succinic acid at its facility in Pomacle, France, but has yet to book any sales. Instead, the firm touts its strategic partnerships with potential succinic acid buyers including Mitsubishi Chemical, Lanxess, and Solvay. To achieve sales, BioAmber will need...
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