Deinove rakes in $2.38M after reaching cellulosic ethanol milestone

May 31, 2011 |

In France, Deinove announced the receipt of a $2.38 million payment from Oseo (the French state innovation agency), the second tranche in the DEINOL cellulosic ethanol project. The payment was triggered by achievement of the first key R&D milestone in the Deinol project – the selection of a robust, thermophilic Deinococcus base strain for use in the ethanol production process.

“This will help us to finance the project through to the next milestone – the launch of lab-scale pilot tests with the candidate strain, scheduled for 2012,” commented CEO Jacques Biton.

The goal of the DEINOL project is to open up (by 2014) new pathways for cellulosic ethanol production by deinococci in existing industrial installations. The $30.8-million project will receive a total of $12.8 million from Oseo. The other partners in the Deinove-led project are Tereos, the joint CNRS/University of Montpellier 1 laboratory CPBS and the joint INSA Toulouse/CNRS/INRA laboratory LISBP). http://www.4-traders.com/DEINOVE-6130009/news/DEINOVE-Achieves-the-First-Key-Milestone-in-the-DEINOL-Project-and-Receives-1-6-Million-from-Oseo-13645486/

Category: Fuels

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