Verenium lands another $4.9 million from DOE

By | April 15, 2010
News release posted April 22, 2010

Verenium Corp., a pioneer in the development of next-generation cellulosic ethanol and high-performance specialty enzymes, announced that it has been awarded an additional $4.9 million from the U.S. DOE to fund ongoing activities at its demonstration-scale facility in Jennings, La. This cooperative agreement is an extension of the grant previously awarded to the company in July of 2008 under a DOE program supporting the development of demonstration-scale cellulosic ethanol biorefinery plants.

"We are very pleased to receive this additional funding from the DOE, particularly given the critical work currently being performed at Jennings to optimize our cellulosic process," said Carlos A. Riva, president and CEO at Verenium. "I believe this award demonstrates further the DOE's support for our technology and commitment to developing a cellulosic ethanol supply industry."

The company plans to use the additional funds to support on-going cellulosic technology and process optimization at its Jennings, La., demonstration facility.

SOURCE: Verenium