Published on Wednesday, 16 November 2011 02:42
Another company using biomass to replace petroleum-based ingredients found in consumer goods has announced plans to raise up to $150 million through an initial public offering. BioAmber Inc., headquartered in Minnesota, uses microorganisms to ferment biomass to produce
succinic acid, a naturally-occurring substance that could replace its petroleum-derived cousin maleic anhydride. Both substances are used to create high-value chemicals used in the plastics, textiles and pharmaceutical industries including 1, 4-butanediol.