Bioamber Inc (OTCMKTS:BIOA) is an industrial biotechnology company, which produces sustainable chemicals. The Company’s technology platform combines industrial biotechnology and chemical catalysis to convert renewable feedstocks into sustainable chemicals that are replacements for those which are petroleum-derived.
One of its chemical solutions is being utilized by Aqua Concept, a German high performance liquid coolant company that has been in business for 25 years, and was one of the first carbon neutral companies in the industry.
This week, Aqua Concept GmbH announced the launch of Coracon® LT EKO, an innovative and environmentally friendly family of liquid coolants based on Bioamber Inc (OTCMKTS:BIOA)’s bio-succinic acid.
Marketed as antifreeze or brine, Coracon® provides several performance advantages over existing alternatives such as: low viscosity, high pump-ability, very low freezing temperatures, remarkable thermo-physical and heat exchange properties, food approval and high corrosion protection. With its positive ecological and physiological rating, Coracon® LT EKO is suitable for all commercial and private systems, technical and food applications, and is particularly effective for very low temperature environments.
“Since Aqua Concept was founded, providing the best-in-class solutions while working to protect the environment has been a central theme in our company’s culture. This innovation would not have happened without our partnership with BioAmber, that enabled us to engineer a unique product, that is both highly performing and complying with our own stringent environmental code. We foresee a successful commercialization for this product family that will bring better solutions to our customers and the market in general”, explained Mr. Klukas, authorized officer of Aqua Concept GmbH.
“Aqua Concept is a great example of an innovating company that leveraged our best-in-class bio-succinic acid to design unique, eco-friendly products and solutions. It has been a pleasure joining forces and working with aqua concept. Their strong technological expertise, market experience, and dedication to developing sustainable solutions have been instrumental for the success of this joint project”, said Will Raymond, Sales Manager of BioAmber. (Source: PR Newswire)
According to a report referenced on Sciencing.com, between 25 percent and 50 percent of the 400 million gallons of antifreeze produced annually ends up disposed of improperly, polluting the environment. Though antifreeze on its own will break down to nontoxic substances, the damage before this happens, and the heavy metals and other contaminants still pose a serious environmental risk.
In other news, a delay in the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2017 because of the additional time that the Company’s independent auditors require to complete their audit of the Company’s financial statements. The Company intends to file its Annual Report within the fifteen-day extension period provided (No later than 03/30). Given the ongoing audit of the Company’s financial statements by the Company’s independent auditors and its audit committee, the Company announced that it is postponing its fourth quarter and full year 2017 earnings release and conference call, until the audit is completed and the Company has filed its Annual Report.
In terms of the chart, BIOA recently began to show the kid of volatility and price action that we generally tend to look for in short term opportunities, so we’re going to put it on our watch lists and continue to track its activity.
We’ll stay up on any further developments with BIOA and pass them along to you! Stay locked on StreetRegister.com and be sure you’re signed up for our 100% free smallcap newsletter.
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