Verenium reports financial results for 1Q 2010

Verenium reports financial results for 1Q 2010

FOCUS agreed to seek out Japanese battery producers, automakers, and other companies that can help UK-based ACAL Energy in developing practical versio...

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FOCUS agreed to seek out Japanese battery producers, automakers, and other companies that can help UK-based ACAL Energy in developing practical versions of its FlowCath platinum-free cathodes for PEM fuel cells. Fuel Cells Bulletin, Apr 2010, 10

Verenium reports financial results for 1Q 2010 Verenium Corp reported financial results for 1Q ended Mar 2010. Total revenues for 1Q 2010 were $13 M ($14.4 M in 1Q 2009), with product revenues representing 89% of total revenues for 1Q 2010 (73% in 1Q 2009). Product revenues for 1Q 2010 increased to $11.6 M ($10.6 M for 1Q 2009), primarily due to an increase in revenues from the company’s Veretase and Xylathin enzymes, which continued to gain acceptance in the grain ethanol markets, and Purifine enzyme for the soybean oil processing market. Net loss attributed to Verenium for 1Q 2010 was $12 M (net income of $3.3 M in 1Q 2009). R&D expenses were $16.999 M during 1Q 2010 ($17.815 M in 1Q 2009). Verenium Corp is a leader in the development and commercialization of cellulosic ethanol, an environmentallyfriendly and renewable transportation fuel, as well as high-performance speciality enzymes for applications within the biofuels, industrial, and animal health markets. Verenium financial results 1Q 2010, 10 May 2010 (Verenium Corp, 55 Cambridge Parkway, Cambridge, MA 02142, USA. Tel: +1 617 674 5300. Website: http://www.verenium.com)

NEW PLANTS BASF expands MSA production in Ludwigshafen BASF is expanding methanesulfonic acid production at its plant at Ludwigshafen to over 30,000 tonne/y, with completion in 2012. The expansion will make BASF the leading producer of methanesulfonic acid. It will add 12 new jobs. Chemie Technik (Heidelberg), 14 May 2010 (Website: http://www.chemietechnik.de) (in German) & Chimie Pharma Hebdo, 17 May 2010, (508), 8 (in French) & Chemical and Engineering News, 17 May 2010, 88 (20), 17 (Website: http://www.cen-online.org) & Press release from: BASF SE, D-67056 Ludwigshafen, Germany. Tel: +49 (0) 621 600. Website: http://www.basf.com (11 May 2010)

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ZeaChem signs Cooperative Agreement with US DOE for $25 M grant to fund biorefinery construction ZeaChem Inc has signed a Cooperative Agreement with the US Department of Energy (DOE) to receive the $25 M grant awarded by the Office of Energy Efficiency and Renewable Energy (EERE), Biomass Program, and funded by the American Recovery and Reinvestment Act (ARRA). The agreement allows ZeaChem to begin receiving the first phase of funding from the grant. The DOE grant will be used to construct and operate the cellulosic ethanol production capability that will be added to the core ZeaChem technology, which will produce ethyl acetate, the chemical precursor to ethanol. ZeaChem will begin producing cellulosic ethanol in 2011 at the company’s 250,000 gallon/y biorefinery, to be located in Boardman, OR. Press releases from: A&R Edelman, 201 Baldwin Avenue, San Mateo, CA 94401. Tel: +1 650 762 2800. Fax: +1 650 762 2801. E-mail: [email protected]. Website: http://www.edelman.com (13 May and 2 Jun 2010)

Work starts at ‘world’s first’ biogasoline production plant Shell has commenced operations of a demonstration plant for converting plant sugars into gasoline and gasoline blend components, rather than ethanol. The 38,000 litre/y plant, located in Wisconsin, is part of a biogasoline R&D partnership between Shell and Virent. The new biofuel produced at the unit can be mixed with gasoline at high concentrations for use in conventional gasoline engines. The patented BioForming platform technology of Virent makes use of catalysts to transform plant sugars into hydrocarbon molecules similar to those produced at a refinery. Petroleum Review, May 2010, 64 (760), 6 (The Energy Institute, 61 New Cavendish St, London W1G 7AR, UK. Tel: +44 (0) 20 7467 7100. Fax: +44 (0) 20 7255 1472. Website: http://www.energyinst.org.uk)

Higher yields and lower cost are expected for this biomass-to-ethanol process BlueFire Ethanol will build a plant based on a biomass-to-ethanol process that promises higher yield and lower costs. The plant, to be constructed in Lancaster, CA, will

produce 4 M gallon/y (roughly 12,000 gallon/day of ethanol) from 130 dry ton/day of feed consisting of postsorted municipal waste. The Lancaster plant will be the first commercial-scale unit to use the biomass-to-ethanol process developed by US firm Arkenol Inc. The process converts cellulose and hemicellulose feedstocks unto glucose and xylose sugars with the use of concentrated sulfuric acid as a catalyst. The plant will go online in autumn 2010. Chemical Engineering (New York), Dec 2009, 116 (13), 12

NEW TECHNOLOGY Haldor Topsoe develops novel lactic acid process A technology for producing lactic acid from biomass carbohydrates without fermentation using an inorganic, heterogeneous catalyst has been developed by researchers at Haldor Topsoe and the Technical University of Denmark. Chemical Week, 24 May 2010 (Website: http://www.chemweek.com)

German yeast catalyst improves yield of cellulosic bio-ethanol A new yeast catalyst technology for the production of cellulosic ethanol will be tested by German biofuels producer Butalco at a Hohenheim University pilot plant starting summer 2010. The company claims that the process is a cheaper and more efficient way of producing ethanol as it ferments C5 waste sugars. The company aims to make cellulosic ethanol a competitive alternative to gasoline. Ethanol Producer Magazine, May 2010 (Website: http://www.ethanolproducer.com)

NITC signs agreement with Hindustan Petroleum The National Institute of Technology has inked a memorandum of understanding with Hindustan Petroleum Corp Ltd for conducting research in the application of nanotechnology in fuels. The project

JULY 2010