BioAmber Sarnia plant secures $10-million loan from BDC

Money will strengthen balance sheet, increase working capital, says official

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BioAmber’s Sarnia plant has received a $10-million loan from the Business Development Bank of Canada.

The company made the announcement Tuesday afternoon in a news release, in which it said the loan “speaks to the strong business case” of the Sarnia plant, which is now in operation.

“We view this as the first step in a long-term partnership with the BDC,” said Mario Saucier, BioAmber’s chief financial officer.

Jerome Nycz, executive vice president of BDC Capital, a wholly owned subsidiary of the BDC, said companies like BioAmber are “helping Canada transition toward a clean growth economy. By supporting companies that invest in clean technologies, we will help diversify and strengthen our economy while also generating jobs and prosperity for the long term.”

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