BioAmber Joins American Business Act On Climate Pledge - Quick Facts

(RTTNews) - BioAmber Inc.(BIOA), a renewable materials company, announced Tuesday that it has joined the American Business Act on Climate Pledge, alongside more than 140 companies from across the American economy.

These companies are standing with the Obama Administration to demonstrate an ongoing commitment to climate action and to voice support for a strong outcome to the COP21Paris climate negotiations.

BioAmber uses biotechnology to convert renewable sugars into succinic acid, a building block chemical used to make a wide range of products including plastics, paints, textiles, synthetic leather, polyesters and personal care products.

Under its pledge, the company would provide industry with succinic acid manufactured by a process that reduces GHG emissions by over 95% and energy consumption by over 60% relative to the conventional petrochemical manufacturing process.

It would also build and operate and additional 160,000 tons (350 million pounds) of renewable chemical manufacturing capacity by 2020 that cuts GHG emissions by 60% and energy consumption by 50% relative to the conventional petrochemical manufacturing process, reducing CO2 equivalent gases by over 650,000 tons per year.

The company would also reduce the energy intensity at its existing 30,000 ton capacity manufacturing plant by 5% each year, achieving a 25% reduction by 2020.