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Verenium Introduces New Enzyme at Upcoming RFA National Ethanol Conference Xylathin(TM) xylanase rapidly degrades xylan significantly improving the economics of processing wheat into fuel ethanol -
CAMBRIDGE, Mass., and ASCHEBERG, Germany, June 22, 2009 – Verenium Corporation (Nasdaq: VVerenium Introduces New Enzyme at Upcoming RFA National Ethanol Conference Xylathin(TM) xylanase rapidly degrades xylan significantly improving the economics of processing wheat into fuel ethanol - CAMBRIDGE, Mass., Feb 11, 2010 /PRNewswire via COMTEX News Network/ -- Verenium Corporation (Nasdaq: VRNM), a pioneer in the development of next-generation cellulosic ethanol and high-performance specialty enzymes, today announced the introduction of Xylathin, a highly active enzyme designed to significantly improve the economics of fuel ethanol production from cereal grains. Xylathin rapidly breaks down xylan, a compound found in cereal grains such as wheat, rye and barley and significantly reduces mash viscosity. This faster acting enzyme allows producers to shorten retention times and reduce enzyme dose. Xylathin also reduces grain water retention lowering grain drying energy requirements.
"Verenium is pleased to announce the launch of its new enzyme, Xylathin, further expanding its product portfolio in the grain ethanol market," said Janet Roemer, Verenium's Executive Vice President, Specialty Enzymes Business. "Xylathin is effective over a wide temperature and pH range allowing ethanol producers greater operational flexibility and significant reductions in processing costs."
The main markets for Xylathin are Europe and Canada, which are the largest global regions that process wheat into fuel ethanol. Verenium and its distribution partner, WeissBioTech GmbH, began selling Xylathin directly to wheat ethanol producers in the first quarter of 2010.
To learn more about Xylathin and Verenium's Specialty Enzyme Business, look for product information on the sponsor table at the 15th Annual RFA National Ethanol Conference being held February 15 - 17, 2010 at the Gaylord Palms Resort and Convention Center in Orlando, Florida.
Verenium Corporation is a leader in the development and commercialization of cellulosic ethanol, an environmentally-friendly and renewable transportation fuel, as well as high-performance specialty enzymes for applications within the biofuels, industrial, and animal health markets. The Company possesses integrated, end-to-end capabilities and cutting-edge technology in pretreatment, novel enzyme development, fermentation and project development for next-generation biofuels. Through Vercipia, a 50-50 joint venture with BP, the Company is moving rapidly to commercialize cellulosic technology for the production of ethanol from a wide array of non-food feedstocks, including dedicated energy crops, agricultural waste, and wood products. In addition to the vast potential for biofuels, a multitude of large-scale industrial opportunities exist for the Company for products derived from the production of low-cost, biomass-derived sugars.
Verenium's Specialty Enzyme business harnesses the power of enzymes to create a broad range of specialty products to meet high-value commercial needs. Verenium's world class R&D organization is renowned for its capabilities in the rapid screening, identification, and expression of enzymes-proteins that act as the catalysts of biochemical reactions. For more information on Verenium, visit www.verenium.com.
Forward Looking Statements
Statements in this press release that are not strictly historical are "forward-looking" and involve a high degree of risk and uncertainty. These include, but are not limited to, statements related to the Company's operations, capabilities, commercialization activities, target markets, cellulosic ethanol facilities, and future financial performance, results and objectives, all of which are prospective. Such statements are only predictions, and actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to the differences include, but are not limited to, risks associated with Verenium's technologies, risks associated with the costs, labor requirements and labor availability associated with Verenium's demonstration plant, risks associated with Verenium's ability to obtain additional capital to support its planned operations and financial obligations, risks associated with Verenium's dependence on patents and proprietary rights, risks associated with Verenium's protection and enforcement of its patents and proprietary rights, technological, regulatory, competitive and other risks related to development, production, and commercialization of cellulosic ethanol and other biofuels and related technologies and the commercial prospects of those industries, Verenium's dependence on existing collaboration, manufacturing, and/or license agreements, and its ability to achieve milestones under existing and future collaboration agreements, the ability of Verenium and its partners to commercialize its technologies and products (including by obtaining any required regulatory approvals) using Verenium's technologies and timing for launching any commercial products and projects, the ability of Verenium and its collaborators to market and sell any products that it or they commercialize, the development or availability of competitive products or technologies, the future ability of Verenium to enter into and/or maintain collaboration and joint venture agreements and licenses, changes in the U.S. or global energy markets and laws and regulations applicable to them, and risks and other uncertainties more fully described in the Company's filings with the Securities and Exchange Commission, including, but not limited to, the Company's annual report on Form 10-K for the year ended December 31, 2008, the Company's quarterly report on Form 10-Q for the three months ended September 30, 2009 and any updates contained in its subsequently filed quarterly or annual reports on Forms 10-Q and 10-K. These forward-looking statements speak only as of the date hereof, and the Company expressly disclaims any intent or obligation to update these forward-looking statements.
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