Montreal-based BioAmber expects a decision on a second manufacturing plant in North America will come in the third quarter of this year.
The company is looking at building a new facility in either Sarnia or Louisiana.
The proposed $500-million US plant would be considerably larger than the $141-million facility on Vidal St. that produces succinic acid from Ontario corn.
President and Interim CEO Fabrice Orecchioni provided a brief project update in a conference call about first quarter financial results to the end of March 2017. He says they're still trying to secure loan guarantees.
"Our immediate priority is to secure project level debt from either a U.S. or Canadian government program," says Orecchioni. "As it stands today, the decision as to where we locate our second plant will still look to be a Q-3 event."
BioAmber reported last year that it had an option on land at TransAlta's Bluewater Energy Park as a possible site for a second plant.
