GLOBAL BIOENERGIES receives 740,000 euros from OSEO to create a
EVRY, France -- March 26, 2013
Global Bioenergies (NYSE Alternext Paris : ALGBE), the industrial biology
company that develops sustainable routes to light olefins, announces a new
740,000 euros financing from OSEO, a French SME-funding state agency, to
support the creation of an isobutene production strain compatible with
industrial pilot testing.
This is OSEO’s third financing on the Company’s program aiming at the
conversion of renewable resources into isobutene. This financing comes in the
form of a 740,000 euros interest-free loan to be reimbursed from 2016 onwards.
OSEO’s financing of various development stages of Global Bioenergies’
isobutene program amounts, since 2009, to a total of 2 million euros.
The main objective of this new phase is to obtain a series of isobutene
production strains and to conduct laboratory pilot tests. Chemical engineering
studies are also carried out in preparation of the industrial pilot phase
which will soon lead to the production of isobutene at greater scale.
Marc Delcourt, CEO of Global Bioenergies declares: “This renewed support
attests of OSEO’s trust in our program. This new phase was initiated last
September and has already led to the creation of improved production strains.
The isobutene program progresses rapidly through this transition phase between
R&D and industrialization and we look forward to carrying out tests at greater
About GLOBAL BIOENERGIES
Global Bioenergies is one of the few companies worldwide, and the only one in
Europe, that is developing a process to convert renewable resources into
hydrocarbons through fermentation. The Company initially focused its efforts
on the production of isobutene, one of the most important petrochemical
building blocks that can be converted into fuels, plastics, organic glass and
elastomers. Global Bioenergies continues to improve the yield of its process
and prepares the phase dedicated to industrial pilot testing. The company
recently replicated this success to propylene and butadiene and is also
looking to continue with other members of the gaseous olefins family, key
molecules at the heart of petrochemical industry. Global Bioenergies is listed
on NYSE Alternext Paris (FR0011052257 – ALGBE).
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Jean-Baptiste Barbaroux – Head of Corporate Development
E-mail : email@example.com
Tel : + 33 (0) 1 64 98 20 50
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