October 1, 2013, Minneapolis, Minn. – A significant
milestone has been reached in the development of succinic acid producing yeast.
BioAmber has entered into an agreement with Cargill under
which BioAmber has exclusively licensed the Cargill yeast technology for
succinic acid production. The final milestone in the agreement was for the
proprietary yeast to reach performance expectations.
BioAmber has now made their final payment to Cargill as part
of the agreement, and will continue work on their 30,000 MT plant in Sarnia,
Ontario, which has been engineered to operate with this proprietary yeast.
Construction of the facility began in August.
"This milestone achievement is the culmination of three
years of joint development with Cargill. We licensed this yeast in 2010 because
we strongly believed it is the best technology platform in the industry for
making organic acids, and because Cargill has experience in the development and
commercialization of organic acids that strengthened our succinic acid program,"
said Jim Millis, BioAmber's chief technology officer.
"BioAmber and Cargill's collaboration has been
successful and our yeast technology has proven effective for making succinic
acid. We look forward to BioAmber commercializing the yeast when it brings on
line its bio-succinic acid facility in Sarnia," said Gary Folkert,
Cargill's biotechnology director of licensing.
"Our proprietary technology platform has been
significantly strengthened with the Cargill yeast. This is an important
milestone and we plan to continue to work with Cargill to develop alternative
feedstock options for our succinic acid platform and to bring to market our
adipic acid yeast platform, which we have also licensed exclusively from
Cargill," said Jean-Francois Huc, BioAmber's chief executive officer.