Renmatix Awarded Sustainable Innovation of the Year by Platts

        Renmatix Awarded Sustainable Innovation of the Year by Platts

Renmatix receives 2012 Platts Global Energy Award for leadership in cellulosic
sugar production

PR Newswire

KING OF PRUSSIA, Pa., Dec. 3, 2012

KING OF PRUSSIA, Pa., Dec.3, 2012 /PRNewswire/ --Renmatix, the leading
manufacturer of biobased sugar intermediates for global chemical and fuel
markets, has received the Platts Global Energy Award for Sustainable
Innovation. Over the past 14 years the Global Energy Awards have honored and
recognized those who have transcended the status quo in the name of excellence
in leadership, innovation and performance in the energy industry. Renmatix's
proprietary Plantrose™ process, which uses supercritical water to convert
cellulosic biomass into cost-effective cellulosic sugars, was selected for its
ingenuity, technical viability and progress towards commercialization.

"Renmatix's role is that of an enabler—we are leading the transition from
petroleum-dependent products to biobased alternatives," remarked Mike
Hamilton, Renmatix CEO. "This has been a tremendous year of growth for
Renmatix, and receiving Platts' acknowledgment further validates our
supercritical water-based technology and its disruptive role in unlocking
sustainable feedstocks to meet the world's growing demand for affordable,
stably priced, renewable materials."

Mark Schweiker, Renmatix SVP, was on hand to accept the award in New York at
the Global Energy Awards ceremony attended by more than 500 international
energy and chemical professionals. The program honors outstanding achievement
in the energy industry, recognizing corporate and individual performance.
Renmatix and the other 2012 award recipients, including Royal Dutch Shell, PTT
Global Chemical Company and Anadarko Petroleum, were selected from more than
200 nominations representing more than 25 countries.

The Platts recognition falls on the heels of Renmatix being awarded the 2012
IChemE Bioprocessing Award on November 1. The IChemE (Institution of Chemical
Engineers) Annual Awards recognize excellence and innovation in chemical and
process engineering. IChemE is the hub for chemical, biochemical and process
engineering professionals worldwide.

In the last 12 months, Renmatix has raised $75M in Series C funding led by the
world's largest chemical company BASF with participation from Waste Management
and global venture investors. The company signed a joint development agreement
(JDA) with Waste Management to explore the viability of using Renmatix's
Plantrose process to produce industrial sugars from post-consumer urban waste.
To support additional feedstock analysis and qualification, the company
expanded its headquarters in Philadelphia, opening a world-class research and
development facility in September.

In October, Renmatix signed a Memorandum of Understanding (MOU) in Moscow with
the State Corporation 'Bank for Development and Foreign Economic Affairs'
(Vnesheconombank, VEB) and venture capital firm Bright Capital. The MOU
provides for potential investment of up to approximately $750 million USD in
debt financing from VEB for collaborative projects utilizing Renmatix's
Plantrose process to address opportunities in Russia's growing biochemical and
biofuels industries.

About Renmatix
Renmatix is the leading manufacturer of cellulosic sugar, an enabling
feedstock for petroleum alternatives used in the global biochemical and
biofuels markets. The company's proprietary Plantrose™ process challenges
conventional sugar economics by cheaply converting cellulosic biomass – from
wood waste to agricultural residue – into useful, cost-effective sugars.
Renmatix's supercritical hydrolysis technology deconstructs non-food biomass
an order of magnitude faster than other processes and enhances its cost
advantage by using no significant consumables. Renmatix is privately held,
with operations in Georgia (USA) currently capable of converting three dry
tons of cellulosic biomass to Plantro™ sugar per day, and a world-class
technical center in Pennsylvania (USA). For more information, visit
www.renmatix.com.

Media contact:
Katie Struble
Antenna Group for Renmatix
renmatix@antennagroup.com
415-977-1928

SOURCE Renmatix

Website: http://www.renmatix.com
 
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