Dyadic And CIMV Enter Into Collaboration To Commercialize Second Generation Biofuel Technology
JUPITER, Fla., Aug. 5, 2014 /PRNewswire/ -- Dyadic International, Inc. ("Dyadic") (OTCQX: DYAI), a global biotechnology company whose patented and proprietary technologies are used to develop, manufacture and sell enzymes and other proteins for the bioenergy, bio-based chemical, biopharmaceutical and industrial enzyme industries, announced today that it has signed a collaboration agreement to commercialize second generation biofuel and bio-based chemical technology with Compagnie Industrielle de la Matiere Vegetale ("CIMV"), a pioneer in developing processes for the production of biofuels and bio-based chemicals.
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CIMV's patented approach of separating the three main components of plant material allows both production of high quality cellulose and hemicellulose, especially well-suited for the enzymatic process, and Biolignin™, a pure form of lignin that may be sold commercially as a high value, environmentally friendly alternative to petroleum-derived chemicals. The technology has garnered industry acclaim in winning the Pierre Potier Prize for Innovation in Chemistry and Frost & Sullivan's 2013 French Visionary Innovation Award.
Under the collaboration agreement, Dyadic and CIMV will work together to develop more efficient, fully integrated processes to produce environmentally low impact biofuels and bio-based chemicals. Dyadic anticipates supplying enzymes to CIMV's planned 2015 demonstration plant, as well as, licensing its C1 technology for on-site production of enzymes at CIMV's future commercial scale plants.
To complete the value chain from biomass to bioethanol, CIMV is also collaborating with Taurus Energy AB, a leading developer of yeast technology to turn cellulosic sugar into bioethanol, and for its international development with Pierson Capital, a leading developer of major infrastructure, transportation and energy programs in the emerging markets of China, Africa and Latin America.
Danai Brooks, Dyadic's Chief Operating Officer, stated "We are excited to have yet another leading technology developer of second generation biofuels and bio-based chemicals recognize the power and performance of Dyadic's C1 enzyme technology. Our C1 enzyme technology, coupled with CIMV's biomass pretreatment technology and Pierson Capital's established connections in emerging markets, can substantially broaden Dyadic's footprint. Our scientists are working closely with CIMV scientists to tailor our C1 enzyme technology to CIMV's high quality cellulose and hemicellulose, which we expect will significantly enhance our capabilities as an integrated technology offering."
Thiery Scholastique, CIMV's Chief Executive Officer, added "We are very eager to partner with Dyadic. We are already collaborating together on Biolignin™ depolymerization under the EU funded Biomimetic project. This new collaboration allows us to appreciate Dyadic's technology and we have decided to extend our partnership on industrial sugars production activity. Together, we have demonstrated the ability to create high yields of fermentable sugars from our purer plant material using Dyadic's CMAX™ enzymes. We believe that this collaboration will lead to more efficient and lower cost enzymes that can be produced onsite at CIMV's commercial biorefineries."
About Dyadic
Dyadic International, Inc. is a global biotechnology company that uses its patented and proprietary technologies to conduct research, development and commercial activities for the discovery, development, manufacture and sale of enzymes and other proteins for the bioenergy, bio-based chemical, biopharmaceutical and industrial enzyme industries. Dyadic utilizes an integrated technology platform based on its patented and proprietary C1 microorganism, which enables the development and large scale manufacture of low cost enzymes and other proteins for diverse market opportunities. The C1 expression system can also be used to screen for the discovery of novel genes. In addition to the sale of proprietary enzyme products, Dyadic actively pursues licensing arrangements and other commercial opportunities to leverage the value of these technologies by providing its partners and collaborators with the benefits of manufacturing and/or utilizing the enzymes and other proteins which these technologies help produce. Please visit Dyadic's website at www.dyadic.com. Dyadic trades on the OTCQX tier of the OTC marketplace. Investors can find real-time quotes, market information and financial reports for Dyadic on the OTC marketplace website at www.otcmarkets.com/stock/DYAI/quote.
About CIMV
The company CIMV (Compagnie Industrielle de la Matiere Vegetale), founded in 1998, has developed a revolutionary concept of lignocellulosic biorefinery. Based on a petroleum refinery model, this allows the separation, without degradation and without environmental impact, of the three components of plant material into three intermediary products designed for industry: Biolignin™, cellulose/glucose and sugar syrups in C5. These products can be substituted for commodities of a fossil origin used in the composition of everyday consumer products (glue, insulation, fuel, plastics, etc.).
The extraction of a pure lignin is the unique scientific breakthrough of CIMV's process and the basis of its profitability, since lignin is the equivalent of a petroleum phenol in main applications. The feedstock used in the CIMV process is non-food material and comes from agricultural byproducts (cereal straw, bagasse from sugarcane and sweet sorghum) or fiber crops (hemp, flax, Provence cane and miscanthus), but can also come from forestry residues.
CIMV is involved in many European Program (Biocore, Biomimetic, Innobite, Reneseng). The Biocore program, ended in Feb 2014, recognized in its final report that's the CIMV's organosolv biorefining process can play a part in the future bioeconomy.
CIMV has protected its technology by filing ten international patents. For more information, please visit www.cimv.eu.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release are "forward-looking statements" within the meaning of the federal securities laws. These forward-looking statements involve risks, uncertainties and other factors that could cause Dyadic's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Investors are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. Any forward-looking statements speak only as of the date of this press release and, except as required by law, Dyadic expressly disclaims any intent or obligation to update or revise any forward-looking statements to reflect actual results, any changes in expectations or any change in events. Factors that could cause results to differ materially include, but are not limited to: (1) whether our new and existing products will achieve commercial success; (2) whether our collaborations will result in future products or enhanced offers; (3) competitive pressures and reliance on key customers and collaborators; (4) Dyadic's research and development efforts; and (5) other factors discussed in Dyadic's publicly available filings, including the risk factors included in Dyadic's Annual Report filed with the OTC Markets Group on March 31, 2014.
SOURCE Dyadic International, Inc.
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