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Dyadic International reports 3Q 2014 financial results
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AkzoNobel and partners to explore use of waste as chemicals feedstock
catalysts tests methods will also be developed at the site.
AkzoNobel is part of a major Dutch partnership working with Canada’s Enerkem to explore the use of waste streams as a feedstock for chemical production and the development of waste-to-chemicals facilities. The collaboration features a number of industry and semi-governmental partners looking to benefit from Enerkem’s proprietary technology that converts waste into synthesis gas – a common starting material for products such as methanol and ammonia. Aimed at closing the loop by converting waste back into useful products, the initial partners are AkzoNobel, Enerkem, the investment and development agency for the Northern Netherlands (NOM), Groningen Seaports, Rotterdam Partners and InnovationQuarter. The partners plan to test various local waste streams, including residual municipal and agricultural waste. The goal is to create a group of partners that all make a unique contribution – waste management companies to provide the waste feedstock and processing capacity, financial parties to arrange funding, end-use chemical companies to handle production and customer sales, and government to facilitate regional investment. Other interested parties are also welcome to join the collaboration. Within the next two to three years, the partners are aiming to have a plant in Delfzijl or Rotterdam (or both) become the first in Europe to utilize the new technology.
Original Source: ICIS Chemical Business, 8-14 Dec 2014, 286 (19), 8 (Website: http://www.icis.com) © Reed Business Information Limited 2014
Original Source: AkzoNobel, 12 Nov 2014, (website: http://www.akzonobel.com) © AkzoNobel NV 2014
BASF opens Heidelberg catalysts laboratory A fluid catalytic cracking (FCC) catalysts testing and research laboratory has been opened by the Refining Catalysts division of BASF at its site in Heidelberg, Germany. Physical and chemical analyses and characterizations of FCC catalysts, hydrocarbons, slurries and fine particles will be conducted at the new laboratory. Advanced refining JANUARY 2015
Dyadic International reports 3Q 2014 financial results Dyadic International Inc, a global biotechnology company whose patented and proprietary technologies are used to develop, manufacture and sell enzymes and other proteins for the bioenergy, bio-based chemical, biopharmaceutical and industrial enzyme industries, announced financial results for 3Q ended 30 Sep 2014. Total revenue for the nine months decreased $3.2 M to $9.8 M compared to $13.0 M for the same period last year. The decrease in total revenue is primarily due to licensing revenue of $700,000 versus $5.0 M in the first nine months of 2013 reflecting the BASF upfront license fee. The remaining $1.0 M BASF license payment of the total $6.0 M was received in 4Q 2013. This decrease was partially offset by growth in product related revenues of $547,000, or 8%, and an increase in research and development revenue of $563,000, or 60%, for the nine months ended 30 Sep 2014. Net product related revenue for the nine month period increased to $7.6 M from $7.1 M for the same period a year ago. License fee revenue for the nine months decreased $4.3 M primarily due to licensing revenue of $700,000 in 2014 versus $5.0 M in the first nine months of 2013 reflecting the BASF upfront licensing fee. The $700,000 received in 3Q 2014 represents a license payment of $500,000 from Abengoa for the opening of its new facility, and a $200,000 payment from BASF for achieving a project milestone. Research and Development revenue for the nine months increased to $1.5 M compared to $941,000 for the first nine months of 2013. Gross profit for the nine months decreased to $3.5 M compared to $6.4 M for the same period a year ago. The decrease is primarily due to reduction in 100% margin of licensing
revenue of $4.3 M. General and administrative expenses were $4.7 M for the nine months ended 30 Sep 2014 as compared to $3.5 M for the period last year, reflecting an increase of 33%. Litigation costs are flat yearover-year at $1.2 M. Sales and Marketing expenses for the nine months ended 30 Sep 2014 rose 32% to $899,000. Research and Development for the nine month period ending 30 Sep 2014 was up 29% to $1.6 M. Overall operating expenses for the nine months ended 30 Sep 2014 increased 35% to $7.3 M compared to $5.4 M for the same period last year. Net loss for the nine months was $4.3 M, or ($0.13)/basic and diluted share, compared to a net income of $121,000, or $0.00/basic and diluted share, for the same period a year ago. At 30 Sep 2014, cash and cash equivalents were $3.4 M compared to $8.9 M at 31 Dec 2013. During the nine months ended 30 Sep 2014, the company used approximately $5.5 M in cash and cash equivalents versus generating $4.5 M for the same period in 2013. Original Source: Dyadic International, 13 Nov 2014, (website: http://dyadic.com/) © Dyadic International 2014
Edeniq and Global Bio-chem enter into joint development agreement On 2 Dec 2014, Edeniq Inc, a biorefining and cellulosic technology company, announced a joint development agreement with Global Bio-chem Technology Group Limited, a leading manufacturer of chemicals from industrial sugars. Following a letter of intent forged in Jul 2014, the companies further cement their cooperation on developing the lowest cost process for converting corn stover to cellulosic sugars for use in the production of bio-based chemical products. Original Source: BioSpace.com, 2014. From Biospace, 2 Dec 2014, (Website: http://www.biospace.com)
Outlook spurs Johnson Matthey A surprisingly big profit and an increase in the full-year forecast have buoyed up Johnson Matthey, the world’s largest automotive catalysts producer. The company’s shares rose
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O N
C ATA LY S T S
AkzoNobel and partners to explore use of waste as chemicals feedstock
catalysts tests methods will also be developed at the site.
AkzoNobel is part of a major Dutch partnership working with Canada’s Enerkem to explore the use of waste streams as a feedstock for chemical production and the development of waste-to-chemicals facilities. The collaboration features a number of industry and semi-governmental partners looking to benefit from Enerkem’s proprietary technology that converts waste into synthesis gas – a common starting material for products such as methanol and ammonia. Aimed at closing the loop by converting waste back into useful products, the initial partners are AkzoNobel, Enerkem, the investment and development agency for the Northern Netherlands (NOM), Groningen Seaports, Rotterdam Partners and InnovationQuarter. The partners plan to test various local waste streams, including residual municipal and agricultural waste. The goal is to create a group of partners that all make a unique contribution – waste management companies to provide the waste feedstock and processing capacity, financial parties to arrange funding, end-use chemical companies to handle production and customer sales, and government to facilitate regional investment. Other interested parties are also welcome to join the collaboration. Within the next two to three years, the partners are aiming to have a plant in Delfzijl or Rotterdam (or both) become the first in Europe to utilize the new technology.
Original Source: ICIS Chemical Business, 8-14 Dec 2014, 286 (19), 8 (Website: http://www.icis.com) © Reed Business Information Limited 2014
Original Source: AkzoNobel, 12 Nov 2014, (website: http://www.akzonobel.com) © AkzoNobel NV 2014
BASF opens Heidelberg catalysts laboratory A fluid catalytic cracking (FCC) catalysts testing and research laboratory has been opened by the Refining Catalysts division of BASF at its site in Heidelberg, Germany. Physical and chemical analyses and characterizations of FCC catalysts, hydrocarbons, slurries and fine particles will be conducted at the new laboratory. Advanced refining JANUARY 2015
Dyadic International reports 3Q 2014 financial results Dyadic International Inc, a global biotechnology company whose patented and proprietary technologies are used to develop, manufacture and sell enzymes and other proteins for the bioenergy, bio-based chemical, biopharmaceutical and industrial enzyme industries, announced financial results for 3Q ended 30 Sep 2014. Total revenue for the nine months decreased $3.2 M to $9.8 M compared to $13.0 M for the same period last year. The decrease in total revenue is primarily due to licensing revenue of $700,000 versus $5.0 M in the first nine months of 2013 reflecting the BASF upfront license fee. The remaining $1.0 M BASF license payment of the total $6.0 M was received in 4Q 2013. This decrease was partially offset by growth in product related revenues of $547,000, or 8%, and an increase in research and development revenue of $563,000, or 60%, for the nine months ended 30 Sep 2014. Net product related revenue for the nine month period increased to $7.6 M from $7.1 M for the same period a year ago. License fee revenue for the nine months decreased $4.3 M primarily due to licensing revenue of $700,000 in 2014 versus $5.0 M in the first nine months of 2013 reflecting the BASF upfront licensing fee. The $700,000 received in 3Q 2014 represents a license payment of $500,000 from Abengoa for the opening of its new facility, and a $200,000 payment from BASF for achieving a project milestone. Research and Development revenue for the nine months increased to $1.5 M compared to $941,000 for the first nine months of 2013. Gross profit for the nine months decreased to $3.5 M compared to $6.4 M for the same period a year ago. The decrease is primarily due to reduction in 100% margin of licensing
revenue of $4.3 M. General and administrative expenses were $4.7 M for the nine months ended 30 Sep 2014 as compared to $3.5 M for the period last year, reflecting an increase of 33%. Litigation costs are flat yearover-year at $1.2 M. Sales and Marketing expenses for the nine months ended 30 Sep 2014 rose 32% to $899,000. Research and Development for the nine month period ending 30 Sep 2014 was up 29% to $1.6 M. Overall operating expenses for the nine months ended 30 Sep 2014 increased 35% to $7.3 M compared to $5.4 M for the same period last year. Net loss for the nine months was $4.3 M, or ($0.13)/basic and diluted share, compared to a net income of $121,000, or $0.00/basic and diluted share, for the same period a year ago. At 30 Sep 2014, cash and cash equivalents were $3.4 M compared to $8.9 M at 31 Dec 2013. During the nine months ended 30 Sep 2014, the company used approximately $5.5 M in cash and cash equivalents versus generating $4.5 M for the same period in 2013. Original Source: Dyadic International, 13 Nov 2014, (website: http://dyadic.com/) © Dyadic International 2014
Edeniq and Global Bio-chem enter into joint development agreement On 2 Dec 2014, Edeniq Inc, a biorefining and cellulosic technology company, announced a joint development agreement with Global Bio-chem Technology Group Limited, a leading manufacturer of chemicals from industrial sugars. Following a letter of intent forged in Jul 2014, the companies further cement their cooperation on developing the lowest cost process for converting corn stover to cellulosic sugars for use in the production of bio-based chemical products. Original Source: BioSpace.com, 2014. From Biospace, 2 Dec 2014, (Website: http://www.biospace.com)
Outlook spurs Johnson Matthey A surprisingly big profit and an increase in the full-year forecast have buoyed up Johnson Matthey, the world’s largest automotive catalysts producer. The company’s shares rose
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