COLWICH, KS, April 23, 2018 (GLOBE NEWSWIRE) -- KnipBio, Inc. and ICM, Inc. announce today that the companies have entered into a joint development agreement (JDA) and strategic collaboration to create a commercial-scale fermentation process for KnipBio’s premium single cell protein (SCP) aquafeed, KnipBio Meal (KBM). The companies will explore new fermentation processes using ethanol and ethanol production process co-products. ICM, Inc. will also provide process engineering and construction plans for commercial exploitation of KnipBio’s biotechnology research. In conjunction with the JDA, ICM is making a significant resource and financial investment in KnipBio and will have representation on the company’s board of directors.
Larry Feinberg, CEO of KnipBio, stated, “ICM is a great strategic fit for us. They have demonstrated their unrivaled knowledge and ability as the world’s leading fermentation process engineering firm. Their expertise will be invaluable as we move towards commercial production. We are thrilled to call them our collaborator. Bringing together ICM’s best-in-class fermentation know-how and KnipBio’s innovative biotechnology will allow us to dramatically accelerate our commercial plans.”
Steve Hartig, ICM’s Vice President of Technology Development stated, “The strategic rationale for investing and working with KnipBio is clear - aquaculture needs new sources of traceable, sustainable, and resource-efficient protein. We believe KnipBio’s premium single cell protein technology could play a central role in meeting this need. Alternative proteins for aquaculture will be a multi-billion dollar market and this process enables the US ethanol industry new opportunities for growth.”
Feinberg added, “ICM recognizes the potential of the alternative protein market and its importance for the future of ethanol. I am grateful that ICM sees the potential of KnipBio’s PROTEINplus product strategy and their investment represents a validation of the research we have conducted over the past three years.”
Work on the JDA will be conducted at KnipBio’s research center in Lowell, Massachusetts and at ICM’s state-of-the-art research facility and pilot plant in St. Joseph, Missouri. The research and development will focus on scaling up fermentation, improving production economics, optimizing processes for different SCP products, and testing the viability of using ethanol-related streams as a fermentation feedstock. The JDA is expected to last for approximately one year.
About KnipBio: KnipBio, Inc. is a Massachusetts-based company pioneering advanced
nutritional solutions for animal feeds from sustainable and responsible feedstocks, using innovative biotechnology to develop KnipBio Meal- a range of single cell protein products built around the company’s ‘PROTEINplus technology that combines immunonutrients with premium protein to make KnipBio Meal a superior aquafeed ingredient. KnipBio is committed to maintaining a level of transparency to ensure the best sustainable and environmentally conscious practices.
For more information, visit www.knipbio.com or contact us at info@knipbio.com
About ICM, Inc: Established in 1995 and headquartered in Colwich, Kan., ICM, Inc., provides innovative technologies, solutions, and services to sustain agriculture and advance renewable energy, including food and feed technologies that will increase the supply of world protein. By providing proprietary process technology to 106 facilities globally, ICM has become a world leader in bio-refining technology. The full-service provider also offers a comprehensive line of more than 100 products and services to make biofuels production more efficient and is investing in the continued advancement of renewable energy technologies. ICM conducts research and testing at its state-of-the-art research facility in St. Joseph, MO, in conjunction with strategic partners spanning multiple industries. For more information, please visit icminc.com.