Dyadic reports 2Q 2005 financial results

Dyadic reports 2Q 2005 financial results

FOCUS ON C ATA LY S T S the use of LSBC’s technologies. BioCatalytics Inc is a leading provider of enzymes and enzymatic technology, with one of th...

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the use of LSBC’s technologies. BioCatalytics Inc is a leading provider of enzymes and enzymatic technology, with one of the largest product lines of enzymes for chemical synthesis available anywhere. Large Scale Biology Corp is a biotechnology company developing and biomanufacturing biotherapeutics, vaccines, and industrial proteins for important life science industry markets.

Tropsch synthesis. Shell will use its Middle Distillate Synthesis technology to convert the syngas into biofuels at a 15,000 tonne/y plant. Choren will market it as SunFuel. It can be used in any diesel engine without modification and without compromising performance. European Chemical News, 22/29 Aug 2005, 83 (2160), 27 & Het Financieele Dagblad, 17 Aug 2005 (Website: http://www.fd.nl/) (in Dutch)

Press release from: Clean Diesel Technologies Inc, 300, Atlantic Street, Suite 702, Stamford, CT 06901, USA. Tel: +1 203 327 7050. Fax: +1 203 323 0461. E-mail: [email protected]. Website: http://www.cdti.com (2 Sep 2005)

Press release from: Large Scale Biology Corp, 3333 Vaca Valley Parkway, Suite 1000, Vacaville, CA 95688, USA. Tel: +1 707 446 5501. Fax: +1 707 446 3917. Website: http://www.lsbc.com (17 Aug 2005)

Clean Diesel Technologies reports 2Q 2005 results

WR Grace 2Q 2005: Davison Chemicals

BioCatalytics opens European office BioCatalytics Inc has expanded its business activities into Europe with the opening of an office in Graz, Austria. BioCatalytics provides enzymes for a wide range of chemical processes. It specializes in catalysts for chiral synthesis of pharmaceuticals. PharmaChem, Jun 2005, 4 (6), 65

Catalytica 2Q 2005: Consolidated statements of operations – 1H 2005 For its 1H 2005 (ends 30 Jun 2005), Catalytica Energy Systems Inc has reported turnover of $2.06 M ($2.08 M for its 1H 2004), R&D expenditure of $3.52 M ($3.88 M), an operating loss of $7.27 M (operating loss of $7.36 M), a net loss of $7.02 M (a net loss of $7.24 M), and a loss per share of $0.39 (loss per share of $0.41). There is analysis/discussion of the business and of the results. Catalytica 2Q Financial Results, 10 Aug 2005, 4 (Catalytica Energy Systems Inc, 430 Ferguson Drive, Bldg 3, Mountain View, CA 94043, USA. Tel: +1 650 960 3000. Website: http://www.catalyticaenergy.com)

Biofuels beckon for Shell Shell Deutschland has bought a minority equity stake in Choren Industries, Germany. The acquisition should result in the construction of the world’s first commercial plant for converting biomass into high-quality synthetic biofuels. Choren has developed the Carbo-V process that converts a range of biomass feedstocks, including wood chips and straw, into a tar-free synthetic gas. This syngas can be converted into clean transport fuels using Fischer-


Clean Diesel Technologies Inc reported results for 2Q and 1H ended Jun 2005, and announced that it has been chosen for grants or awards in the states of Texas, New York, and Massachusetts. Net loss was $1.286 M on total revenues of $268,000 for 2Q 2005 (net loss of $885,000 on total revenues of $93,000 in 2Q 2004). For 1H 2005, net loss was $2.477 M on total revenue of $460,000 (net loss of $1.693 M on revenue of $287,000 in 1H 2004). R&D expenses were $88,000 for 2Q 2005 ($90,000 in 2Q 2004) and were $147,000 for 1H 2005 ($170,000 in 1H 2004). Clean Diesel Technologies has patented products that reduce emissions from combustion engines while simultaneously improving fuel economy and power. Products include Platinum Plus fuel-borne catalysts, the Platinum Plus Purifier System, and the Aris 2000 urea-injection systems for selective catalytic reduction of NOx. Clean Diesel Technologies 2Q and 1H 2005 results, 12 Aug 2005 (Clean Diesel Technologies Inc, 300, Atlantic Street, Suite 702, Stamford, CT 06901, USA. Tel: +1 203 327 7050. Fax: +1 203 323 0461. E-mail: [email protected]. Website: http://www.cdti.com)

Clean Diesel signs distribution agreement with Fleetguard Clean Diesel Technologies Inc (Clean Diesel) has signed a blending and distribution agreement with Fleetguard Inc, a business unit of Cummins Inc, for the sale of Platinum Plus Fuel-Borne Catalyst (FBC) in North America and international markets. Under the terms of the agreement, Fleetguard will purchase Platinum Plus FBC concentrate from Clean Diesel for blending into finished products for sale under the Fleet-tech

brand to distributors and end users in the on-highway, off-road, marine, and power generation sectors. Clean Diesel will continue to focus on product development, FBC-emissions verification with after-treatment devices, and global promotions.

For its 2Q 2005 (ends 30 Jun 2005), the Davison Chemicals division of WR Grace & Co has reported turnover of $358.9 M (+20.5% on its 2Q 2004) and operating income of $43.1 M (+14.9%). For its 1H 2005 this division has reported turnover of $693.6 M (+22% on its 1H 2004) and operating income of $80.8 M (+16.3%). There is analysis/discussion of the business and the results. Grace 2Q Report, 19 Jul 2005, 2 (WR Grace & Co, 7500 Grace Drive, Columbia, MD 21044, USA. Website: http://www.grace.com)

Degussa to market BASF catalyst Degussa subsidiary Goldschmidt Polyurethane Additives is to market and provide technical services for BASF’s triethylenediamine (TEDA) catalyst. TEDA is used to produce PU foams and is sold by BASF under the Tegoamin brand name. BASF completed a TEDA production plant at Antwerp in Apr 2005, and it also makes TEDA at Geismar, LA, and Ludwigshafen. Degussa says it is the market leader in additives for PU foam. Chemical Week, 3 Aug 2005, 167 (25) (Website: http://www.chemweek.com) & Chemische Rundschau, 23 Aug 2005, 58 (8), 10 (in German) & Chemical and Engineering News, 8 Aug 2005, 83 (32), 18-19 (Website: http://www.cen-online.org) & Chimie Pharma Hebdo, 29 Aug 2005, (308), 14 (in French)

Dyadic reports 2Q 2005 financial results Dyadic International Inc (Dyadic) announced financial results for its 2Q and 1H ended Jun 2005. The 2Q 2005 revenue from higher-margin industrial enzyme industries, such as pulp and paper and animal feed, increased by 46% over net sales in 2Q 2004 and represented 29% of net sales, as


FOCUS compared to 19% of net sales in 2Q 2004. Sales to the pulp and paper industry comprised 13% of total net sales for 2Q 2005 as compared with 7% in 2Q 2004, while sales to the textile industry comprised 69% for 2Q 2005 and 82% for 2Q 2004. Revenue for 2Q 2005 was $4 M ($4.4 M in 2Q 2004). Net loss for 2Q 2005 was $2.3 M (net loss of $1.1 M in 2Q 2004). R&D expenses for 2Q 2005 were $1 M ($900,000 in 2Q 2004). Revenue for 1H 2005 was nearly $7.7 M (nearly $8.4 M in 1H 2004). Net loss for 1H 2005 was $5.4 M (net loss of $2.1 M in 1H 2004). Dyadic International Inc is engaged in the development, manufacture, and sale of biological products (proteins, enzymes, peptides, and other bio-molecules), as well as the licensing of its enabling proprietary technology to business collaborators for the discovery, development, and manufacture of biological products from genes. Dyadic 2Q and 1H 2005 results, 15 Aug 2005 (Dyadic International Inc, 140, Intracoastal Pointe Drive, Suite 404, Jupiter, FL 33477-5094, USA. Tel: +1 561 743 8333. Fax: +1 561 743 8343. Website: http://www.dyadic-group.com)

Hakuto, Engelhard expand alliance in FCC catalysts Hakuto has signed an exclusive agreement with Engelhard, US, to supply its fluid catalytic cracking (FCC) catalysts in Japan. Hakuto is already the sole agent for Engelhard’s FCC catalyst additives in Japan, and this deal is an extension of the previous agreement. The market for FCC catalysts in Japan is worth Yen 5 bn and Hakuto hopes to capture 10% of the market in the first year and 30% in three years time. Hakuto is aiming to raise its sales from Yen 6 bn to Yen 10 bn. Japan Chemical Week, 4/11 Aug 2005, 46 (2329), 2

Lanxess: more Nd-PBR capacity In line with rising demand for highperformance polybutadiene rubber (PBR), Lanxess has completed the first phase of its programme for increasing output of neodymiumcatalysed Nd-PBR. The aim is to adapt existing production lines so that various types, including lithium PBR and solution SBR, can be produced




on the same line. Production lines in Port Jerome, France and Orange (USA) are already profiting from this measure. Further production lines will be equipped for the production of Nd-PBR in the second and third phases. Kautschuk und Gummi, Kunststoffe, Jul-Aug 2005, 58 (7-8), 346 (in German)

Linde to set up German Hydrogen Circular Road with 40 public filling stations on motorways Linde (Germany) plans to set up the German Hydrogen Circular Road with 40 public filling stations on motorways. The stations will be located close to the main German carmakers, which will make the testing of new hydrogen technologies easier. Gradually, the circle should be expanded to 20 other European cities and should cover 10,000 km of motorways. Linde’s engineering director Aldo Belloni spoke about the project at the regular annual meeting of the European Platform for Fuel Cells and a Hydrogen Economy. According to an optimistic scenario, there could be roughly 6.1 M hydrogen-driven cars in Europe in 2020. Some 2800 hydrogen filling stations would be enough to supply them with the fuel. The investment costs on this project will not exceed €3.5 bn. According to the same scenario, 40 M hydrogen-driven cars could be running in Europe in 2030. At least 18,000 hydrogen filling stations would be necessary for them. Technicky Tydenik, 9 Aug 2005, 52 (15), 28 (in Czech)

Materia and Sunesis Pharmaceuticals enter into catalyst licensing agreement Materia has granted the biopharmaceutical firm Sunesis Pharmaceuticals a non-exclusive licence allowing it access to metathesis technology for a compound under development. In addition to a licence for catalyst use, Materia will provide support for process optimization. Materia has a number of ruthenium catalysts for use in drug discovery, development, and manufacturing applications. Materia’s technology allows the formation and manipulation of carbon-carbon bonds

within highly functionalized precursors. Sunesis has a number of anticancer and antiinflammatory drugs in development. PharmaChem, May 2005, 4 (5), 9

NE Chemcat expands chemical catalyst business NE Chemcat is to expand its chemical catalyst business into base metal catalysts, which are mainly used in petrochemical processes. It will introduce base metal catalysts from its US partner, Engelhard. A dedicated design and development laboratory will be established at Ichikawa, Japan. Engelhard will undertake production overseas, with catalysts being exported to Japan. Japan Chemical Week, 4/11 Aug 2005, 46 (2329), 2

Nippon Oil starts considering introduction of HS-FCC unit Nippon Oil may introduce its highseverity fluid catalytic cracking (HSFCC) technology within 1-2 years. The process gives a high yield of propylene and butene compared to conventional FCC. The company is operating a 30 bbl/day demonstration unit in collaboration with the Saudi Arabian government. A scaled-up version may be installed at one of the company’s refineries in Japan. Japan Chemical Week, 28 Jul 2005, 46 (2328), 4

Novozymes results up in 1H 2005 In 1H 2005 Novozymes, Denmark, reported a turnover of DKR 3037 M, 3% up on 1H 2004. Results from primary operations were up 15% to DKR 597 M. A large part of the growth in sales came from Europe, whereas sales to N America fell because of reduced sales of enzymes to the washing products industry as well as lower sales to the microorganisms industry. Latin American sales were also down but highly satisfactory growth continued to be achieved in Asia and Oceania. Novozymes has raised its forecast for growth in results from primary operations in 2005 from 6% to around 8%. The prediction for free cash flow has also been