Lignol announces Q1 net loss of CAD $1M following reduced government funding

October 1, 2012 |

In Canada, Lignol has announced its 2013 Q1 results, netting a loss of CAD $1M. Although government funding was reduced by $700,000, Lignol managed to cut operating expenses to duplicate the losses experienced in 2012 Q1, also $1M. The company has completed its work with Novozymes and continues to operate its pilot plant and enzyme research. Lignol also acknowledged a CAD $4M purchase in Australian Renewable Fuels Limited, amounting to an 11.2% stake in the company.

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Category: Fuels

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