24,000 MT. Lastly, BioAmber announced a successful secondary public offering of 2.8 million shares of common stock. LOOKING AHEAD The fermentation of bio-succinic acid involves a proprietary yeast, and is brewed in a similar fashion as beer. to bet on the next technology,” says Luc. The company’s actions in 2014 went a long way to securing that success. Within the first seven months of the year, while construction of the Sarnia plant was ongoing, the company was able to successfully negotiate three separate loans, worth a total of approximately $37 million from government organizations that had funding available: Agriculture Canada, Sustainable Development and Technology Canada and Export Development Canada. Within that same time period, the company signed take-or-pay contracts with two companies, covering 80 per cent of the at-capacity total production volume or approximately As the company ramps up production towards the at-capacity pro-duction goal of 30,000 MT per year, the prospects grow for future development of additional industry assets in and around Sarnia. “I am very excited about the prospect of downstream investment,” says Huc. “Once you’re making the basic building blocks for polymers, for foams, for various products here, it makes a lot less sense to take those building blocks and ship them halfway around the world to create a polyol, polyurethane or an injected-molded product and then ship it all the way back here.” And as BioAmber progresses towards capacity production, tar-geted for the end of 2017, Huc’s excitement for what comes next in the region continues to grow. “I’m expecting over the next 10-15 years, we start to produce these building block chemicals from renewable sugars grown in this region, you’re going to find that people will start to build these biodegradable plastic plants next door.” What once was fantasy, the emergence of a homegrown bio-chemical sector in the heart of Ontario’s petrochemical hub, may soon become reality thanks, in part, to BioAmber. • For more information on biochemical production plants in Canada, visit canadianbiomassmagazine.ca. Proven Solutions for your Biomass Applications Pneumatic & Mechanical Boiler Feeds Store, reclaim, convey and feed biomass and alternative fuels directly into boilers and kilns. Biomass Material Handling Support for biomass energy generation from truck/rail receiving through metered infeed into the boiler. Storage & Reclaim Equipment Open air or enclosed storage with circular or linear design solutions to fit your application. Crushers, Feeders & Sizers Primary and secondary crushing as well as multiple feeder options to process coal and biomass. Unmatched Parts and Service Replacement parts, OEM rebuilds & retrofits, installation, start-up, training and repair. Visit our website, follow us on social media or contact us today for more information. Toll-Free: +1 (855) 483-7721 § Email: [email protected] § Web: www.terrasource.com/cb 3 market-leading brands recognized and trusted throughout the world The brands comprising TerraSource Global (Gundlach Crushers, Jeffrey Rader and Pennsylvania Crusher) are wholly-owned subsidiaries of Hillenbrand, Inc. (NYSE: HI) © 2015 TerraSource Global. All Rights Reserved. Handling a World of Materials 20 Canadian BIOMASS NOVEMBER/DECEMBER 2015
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