There's hope in BioAmber's latest financial report that a second succinic acid plant could still be built, possibly in Sarnia.
The Montreal-based company is reporting record revenue of $5.4-million in the fourth-quarter of 2017.
During a conference call Wednesday, CEO Rick Eno said they'll continue to find new markets for bio-succinic acid and aggressively drive down the company's cost structure.
“We believe this performance will unlock growth opportunities for us," says Eno. "That includes a second plant that will convert bio-succinic acid into butanediol and THF (tetrahydrofuran), which reflect an $8-billion market.”
No updated timeline is given for a decision about a second plant but Sarnia is in the running as the potential site.
Total company revenue in 2017 was up 81% at $14.9-million, driven by increased sales of bio-succinic acid from BioAmber's existing Sarnia plant that opened in 2015.
The Vidal St. S. facility makes a building block chemical from corn that is used to manufacture products including plastics, paints, cosmetics and food additives.
