Renewable chemicals start-up BioAmber hopes to raise up to $150 million in an initial public offering (IPO) of stock. The firm’s first product is succinic acid, a fermentation-derived intermediate that is also being pursued by several other companies.
BioAmber says its industrial biotechnology process yields cost-competitive replacements for petroleum-derived chemicals. Succinic acid can be a raw material for plastics, food additives, and personal care ingredients and a building block for other intermediates including 1,4-butanediol (BDO). BioAmber says it is also developing biobased adipic acid and caprolactam, both used in the production of nylon.