Built on technology innovation, strategic partnerships and successful joint ventures, BioAmber is growing rapidly to meet the demand for green, sustainable chemicals. Through internal development and the acquisition of proprietary processes and technologies, BioAmber is primed to lead the renewable chemistry revolution.
BioAmber was established in December 2008 as DNP Green Technology, when the succinic acid assets were spun off from Diversified Natural Products. Following the spin off, the company’s shares were distributed to Diversified Natural Product’s shareholders, making BioAmber a standalone legal entity with no ties to Diversified Natural Products.
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 transition.
Since its creation in 2008, BioAmber has established several business and technology partnerships (see partnerships page for a list of partners).