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BioAmber CEO: Expect More Big Pay Days After 'Take or Pay' Deal

TheStreet

BioAmber's "take-or-pay" deal with Vinmar this week, along with lower corn prices, is the start of big things to come for the sustainable chemical maker, said the company's CEO Jean-Francois Huc. BioAmber announced Monday it signed a 210,000 ton per year contract for bio-based succinic acid with Vinmar. Under the terms of the 15-year master off-take agreement, Vinmar has committed to purchase and BioAmber Sarnia, a joint venture with Mitsui Co., has committed to sell 10,000 tons of succinic acid per year from the 30,000 ton per year capacity plant that is currently under construction in Sarnia, Canada.