Journal Staff
BioAmber announced a strong fourth quarter to 2017 based on growing sales from its Sarnia manufacturing facility.
The Montreal-based company posted record revenue of $5.4 million in the final three months of the year.
The Sarnia facility turns plant wastes into succinic acid, a building block used in everything from plastics to paint and food.
The company said its customer base has expanded to over 80 and it’s exporting to 17 companies from the Sarnia plant.
It has also been approved for participation in Ontario’s Cap and Trade Program, which it sees as having a positive impact on future profitability.
The quarter was a dose of good news for the company, which recorded a net loss of $102.2 million in 2017 and has seen its stock value plunge to almost nothing this year.
