From BioProducts Update
Word arrived from Minnesota that BioAmber has signed a 210,000 ton per year take-or-pay contract for bio-based succinic acid with Vinmar International.
Explaining why BioAmber stock shot up nearly 17% in today’s trading despite a global equities pullback that affected almost everyone else in industrial biotech.
Under the terms of the 15-year agreement, Vinmar has committed to purchase and BioAmber Sarnia has committed to sell 10,000 tons of succinic acid per year from the 30,000 ton per year capacity plant that is currently under construction in Sarnia.
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