DEINOVE ANNOUNCES A COLLABORATION AGREEMENT WITH A LEADING BIOETHANOL PRODUCER

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| Source: Deinove
  • The DEINOL collaborative programme, aimed at 2G bioethanol production, continues with the ABENGOA group and the continuous support of Bpifrance;
  • By signing this collaborative agreement, DEINOVE provides the means of rapid and global industrialisation of its process.

MONTPELLIER, France, June 3, 2014 (GLOBE NEWSWIRE) -- DEINOVE (Alternext Paris: ALDEI), a cleantech company that designs and develops a new generation of industrial processes based on the exploitation of Deinococcus bacteria, announces the signing of a collaboration agreement with ABENGOA, one of the world's leading bioethanol producer, with the support of Bpifrance.

The Agreement is concluded for up to 36 months and focuses on the development with its industrial partner of DEINOVE's consolidated bioprocess (CBP) using Deinococcus bacterium selected by DEINOVE to digest and convert agricultural residues to ethanol at a competitive cost. Performances obtained with substrates supplied to DEINOVE by ABENGOA will be evaluated in order to set up a process that can be implemented, subject to adequate performance, in full-size factories.

TEREOS has supported the DEINOL project since 2010 and is also a DEINOVE shareholder. Considering the development of food production at its BENP Lillebonne plant, TEREOS waived its option on the DEINOL project. DEINOVE welcomes, in agreement with TEREOS and Bpifrance, ABENGOA as the new industrial partner of the DEINOL project.

In January 2014 DEINOVE announced a 9% ethanol production, using Deinococcus bacteria, which demonstrates the technological and potential economic viability of its production process.

Project financing

DEINOL, a collaborative research programme for the development of second-generation biofuel production processes based on the extraordinary capacity of Deinococcus bacteria, obtained in 2010 a funding commitment from Oseo-ISI (now Bpifrance) for €8.9 million, including €6 million for DEINOVE. The company has already received €4m and achieved the first key milestones. The DEINOL consortium will receive additional funding from Bpifrance upon reaching successful milestones.

As stated when releasing its 2013 financial results, DEINOVE believes it is capable of receiving licensing revenues as of 2016.

About ABENGOA

ABENGOA (MCE: ABG.B / P SM / NASDAQ: ABGB) is an international group that develops innovative, sustainable technological solutions in the energy and environmental sectors: production of electricity from solar energy, conversion of biomass into biofuels, production of drinking water from sea water, and recycling of industrial waste water.  A European leader in the production of bioethanol and a major global player, ABENGOA has a strong position in the three major bioethanol markets: Europe (six plants), U.S. (six plants) and Brazil (three plants). Its asset base will expand in the coming years with the construction of second-generation plants; the company already has a commercial plant and two pilot plants. More information at www.abengoa.com

ABOUT TEREOS

Today, the TEREOS Group is one of the world leaders in three sectors: sugar, alcohol-ethanol and starch products. A cooperative sugar group, TEREOS is specialized in the primary processing of sugar beet, sugar cane and cereals into sugar, alcohol and starch. With strong regional roots, TEREOS rallies 12,000 cooperative growers around a long-term vision: adding value to agricultural production and contributing towards global food supply. With over 41 industrial sites and 26,000 employees across Europe, South America, Africa and China, TEREOS accompanies its customers as they develop in Europe and around the world. More information at www.tereos.com

ABOUT DEINOVE 

DEINOVE (Alternext Paris: ALDEI) is ushering in a new era of green chemistry by designing and developing new standards of production based on bacteria of untapped potential: the Deinococci. Taking advantage of the bacteria's unique genetic properties and unusual robustness, DEINOVE optimizes natural fermentation and metabolic capabilities of these bacterial "micro-factories" to produce high value-added products from non-food biomass. The Company's primary markets are 2nd-generation biofuels (DEINOL) and bio-based chemicals (DEINOCHEM). On these markets, the Company offers its technology to industrial partners globally.  Listed on NYSE Alternext since April 2010, DEINOVE was founded by Dr. Philippe Pouletty, General Partner of TRUFFLE CAPITAL, and Pr. Miroslav Radman, of the Faculty of Medicine of Paris Descartes University. The company employs over 40 people in its new offices and laboratories located in Montpellier, France. 

More information at www.deinove.com

Contacts 

DEINOVE
Emmanuel Petiot
CEO
Tel: +33 (0) 4 48 19 01 28
emmanuel.petiot@deinove.com

Coralie Martin
Communication, Marketing and IR Manager   
Tel: +33 (0) 4 48 19 01 60  
coralie.martin@deinove.com

ALIZE RP, Press relations
Caroline Carmagnol and Sayuli Nishioka
Tel: +33 (0) 1 70 22 53 90 / +33 (0) 1 70 22 53 86
Mobile: +33 (0) 6 64 18 99 59
deinove@alizerp.com 

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