[TodayIR] GLOBAL BIO-CHEM: Global Bio-Chem Joins Hands with

  [TodayIR] GLOBAL BIO-CHEM: Global Bio-Chem Joins Hands with Edeniq Inc. to     Develop and Commercialise Corn Stover to Industrial Sugars Conversion                                   Technology  Global Bio-chem Technology Group Company Limited ("Global Bio-chem" or "the Company", stock code: 00809) announced it has signed a letter of intent with Edeniq, Inc. ("Edeniq"), a cellulosic sugar producer, to develop and commercialise the processes to convert corn stover to industrial sugars for use in the production of chemicals, fuels, and other bio-based products.  Pursuant to the letter of intent, Global Bio-chem and Edeniq intend to integrate their technologies in a commercial demonstration plant to achieve an initial target of producing 50,000 metric tons per year of industrial sugars from corn stover, and subsequently to form a joint venture to further develop and commercialise their technology platform. Global Bio-chem is currently working on modification of corn stover, consisting of leaves, stalks and cobs of corn at its facility in Jilin Province of China.  “This relationship with Global Bio-chem will accelerate the scale-up and commercialisation of our continuous sugars process built upon years of technology development at our pilot facilities in California,” said Mr Brian Thome, President and CEO of Edeniq. “We believe our joint venture will offer an industry-leading, low-cost technology platform to biochemical and biofuel producers in China, the United States, and elsewhere, enabling significant market growth for bio-based products.”  Ms. Xu Ziyi, Executive Director of Global Bio-chem, said: “The Group is a pioneer in using corn stalk as raw material for further downstream processing, and has been working on fully utilising other corn residues as well. Our collaboration with Edeniq is to focus on enhancing our technology to significantly reduce the production costs of corn stover-based sugar, and to enable us to expand into a variety of bio-based products with such biomass as raw material.”  The collaboration between Global Bio-chem and Edeniq has gained government support. “The Jilin provincial government is pleased to support Global Bio-chem-Edeniq partnership in its goal to develop processes to utilise the millions of metric tons per year of corn stover available in our province,” said Mr Dawei Liu, Deputy Commissioner of Industry Department, Jilin Province Development and Reform Committee.  
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