[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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