Visolis and LCY were the "Prospective Purchaser" during the initial SISP that anticipated retaining all current employees of Bioamber Sarnia. The commercial team, along with Mike Hartmann, would be transferred to Bioamber Sarnia or a US entity. Bioamber Biochemicals updated their directors list in October after the Visolis Transaction. Mike Hartmann was made a director.
Visolis envisaged retaining a number of engineering and research and development personnel in St Paul and Plymouth. Based on Roger Olewinski's Linkedin he is now an employee of Visolis in St Paul.
Bioamber's existing operations, sales, marketing, logistics and R&D teams provide a foundatiopn for the larger team needed as Visolis and LCY increase sales of product from 1 MT+(2017) to 20,000 MT(2022). Visolis and LCY is deferring hiring in these areas for 1-2 years by accessing expertise and structure via a service agreement with Bioamber, creating additional synergies for an EVENTUAL MERGER IN THE EVENT OF SUCCESS
Deepak Dugar, President of Visolis did a presentation in May at Spring Summit 2018. The chemical he spoke of on stage was being produced at their 9000L pilot scale plant in California. They will now do a 9000 gallon production run at the Bioamber Sarnia plant.
I'm going to talk a little about carbon negative material. This bottle here, this chemical sells for $10,000/kg. Its used in cosmetics. We made $1,000,000 worth of it, in a week, at a price point, which was 90% lower than I just mentioned. That's the power of synthetic biology and we are bringing that to manufacturer of chemicals, materials and polymors.
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