In the fall of 2009, DNP Green Technology completed a $12 million financing with a group of institutional investors led by Sofinnova Partners, a leading European venture capital firm, and including Mitsui & Co. Venture Partners, the venture arm of the Japanese trading powerhouse Mitsui & Co, and Samsung Ventures, the venture arm of the Samsung Group, one of Asia’s largest industrial groups. Other investors included the Cliffton Group, a Canada-based real estate group with interests in clean tech.
In the fall of 2010, DNP Green Technology acquired 100% of the shares of its Bioamber joint venture from ARD. Concurrent with the acquisition of the joint venture, DNP Green Technology changed its name to BioAmber Inc. Siclae, a leading European agricultural group and the principal shareholder of ARD, became a shareholder in BioAmber through the transaction.
BioAmber raised two additional rounds of capital in 2011 and 2012, with gross proceeds of $75 million, with Naxos Capital Partners and LANXESS Corporation becoming shareholders.
In May 2013, BioAmber completed and Initial Public Offering on the New York Stock Exchange, under the symbol BIOA. The company raised $80 million in gross proceeds and issued warrants giving investors the right to purchase an additional $44 million of common shares.
BioAmber Vision and Mission
BioAmber vision is to be the pioneering chemical company and vital catalyst in the development of a global, 100% low-carbon integrated supply chain: an innovation driven, renewable chemicals company that delivers value through sustainable processes, intermediates and materials.
BioAmber mission is to help accelerate sustainable change in the chemical industry. By looking to nature for inspiration, we make chemicals that benefit the environment, our customers, employees and communities for a more sustainable future.
Choosing to Step towards a Low-Carbon, Sustainable Global Economy
At this unique time in history, many of us are presented with difficult choices as we transition away from what we now recognize are limited resources. At BioAmber, we recognize that no single technology will solve the complexities of changing a global petrochemical supply chain, but a single choice can be a step change in the direction of sustainability. The fact is, like nature itself, any systems change is implemented through incremental, segmented changes over a period of time. Likewise, any significant change in chemical and material supply will most likely include thousands of supply chain components, different geographic areas, new manufacturing technologies: each with unique timelines to reach relevant scale.
More than a Link in the Supply Chain, Materials are the Critical Constant
A choice to use BioAmber’s renewable chemicals is a choice for high impact sustainability. BioAmber technology is foundational to a transition away from traditional materials made from fossil resources. We provide more than a single improvement to a component of the existing supply chain. We combine biological processes with innovative chemistry to leverage the best of both in the production of more natural chemicals that are safer, high-performance and bio-based. The more low carbon footprint sustainable chemicals are embraced and integrated, the more impact is amplified throughout the supply chain. BioAmber bio-based succinic acid process technology is a carbon neutral at industrial capacity. Our Sarnia, Ontario plant will generate 102.5% less greenhouse gas emissions and uses 64.4% less energy compared to petrochemical production of succinic acid pound for pound. The use of our building block chemicals immediately reduces the overall footprint of any product, when used as a direct replacement for a carbon intensive chemical. Check our Eco Calculator to find out how much the carbon footprint may be reduced in your products, community or business.
Choosing BioAmber Contributes to Systemic Change
Renewable platform chemicals are, quite literally, a new starting place for chemicals and products. BioAmber renewable platform chemicals make a critical sustainability impact by providing a starting point for manufacturers, customers, research and development and petrochemical partners, to step in a more sustainable direction. But not only a starting point, because sustainability is embedded in both materials and production, the benefit of BioAmber’s technology is magnified for all stakeholders. Customers, communities, farmers, petrochemical partners, manufacturers, consumers, retailers, and governments alike, all increase the likelihood of system wide sustainable impact when they make the choice to integrate renewable, bio-based chemistry into more and different segments of the supply chain.
One step toward a more sustainable economy is a step change in the right direction. Many step changes make a sustainable world possible.