BioAmber’s Canadian subsidiary, BioAmber Sarnia, has secured a C$10 million ($7.94 million) loan from BDC Capital, a subsidiary of Business Development Bank of Canada.

The loan does not contain any convertible features or warrants and is subject to the completion of certain customary conditions. The details of the loan have been disclosed in an 8-K filing with the Securities and Exchange Commission.

“This loan will strengthen the balance sheet and increase the working capital of our Sarnia operating company while establishing a business relationship with BDC, an important Canadian lending institution,” said Mario Saucier, BioAmber’s CFO.

BioAmber is a renewable materials company. Its technology platform combines biotechnology and catalysis to convert renewable feedstock into building block materials that are used in a wide variety of everyday products.