BioAmber Achieves Final Milestone; Successfully Produced Succinic Acid Utilizing Cargills Yeast Tech.

MINNEAPOLIS, MN -- BioAmber Inc. (NYSE: BIOA) announced recently a payment to Cargill for achieving the final milestone in their development agreement, under which BioAmber has exclusively licensed the Cargill yeast technology for succinic acid production. Completion of this milestone signals that the succinic acid producing yeast has met performance expectations. BioAmber began work in August 2013 on a 30,000 MT plant in Sarnia, Ontario, and has engineered the facility to operate with this proprietary yeast.

"This milestone achievement is the culmination of three years of joint development with Cargill. We licensed this yeast in 2010 because we strongly believed it is the best technology platform in the industry for making organic acids, and because Cargill has experience in the development and commercialization of organic acids that strengthened our succinic acid program," said Jim Millis, BioAmbers Chief Technology Officer.

"BioAmber and Cargills collaboration has been successful and our yeast technology has proven effective for making succinic acid. We look forward to BioAmber commercializing the yeast when it brings on line its bio-succinic acid facility in Sarnia," said Gary Folkert, Cargills Biotechnology Director of Licensing.

"Our proprietary technology platform has been significantly strengthened with the Cargill yeast. This is an important milestone and we plan to continue to work with Cargill to develop alternative feedstock options for our succinic acid platform and to bring to market our adipic acid yeast platform, which we have also licensed exclusively from Cargill," said Jean-Francois Huc, BioAmbers Chief Executive Officer.

About BioAmber

BioAmber (NYSE and EURONEXT Paris: BIOA) is a sustainable chemicals company. Its proprietary technology platform combines industrial biotechnology and chemical catalysis to convert renewable feedstock into chemicals for use in a wide variety of everyday products including plastics, resins, food additives and personal care products.

About Cargill