World's Largest Soybean Processing Industrial Complex Converts Half of Capacity to Usage of Verenium's Purifine® PLC Enzymatic Degumming Process Engineered and Installed by Alfa Laval

SAN DIEGO, Feb. 28, 2011 /PRNewswire/ -- Verenium Corporation (Nasdaq: VRNM), a pioneer in the development of high-performance specialty enzymes, today announced that Terminal 6, a major producer of soybean meal, oil and biodiesel, has successfully begun use of Verenium's Purifine enzymatic degumming process at its Puerto General San Martin facility in Argentina. Purifine enzymatic degumming is a novel process that significantly increases yields in edible oil production and can have additional benefits in refining the Purifine-degummed oil.

"Terminal 6 is a leading processor of soybeans, and a flagship plant for Bunge Argentina and Aceitera General Deheza," said Janet Roemer, President and Chief Operating Officer of Verenium.  "Verenium is pleased to be able to work with Terminal 6 to enable enhanced operating efficiency through the use of Purifine PLC. This implementation provides further validation of Verenium's Purifine technology to increase oil yields and improve the efficacy of meal production, and has been enabled by our partnerships with Alfa Laval and Bunge."

"Implementation of the Purifine PLC enzymatic degumming process has resulted in a significant increase in oil yields and processing margins enabling our facility to more fully reach its potential," said Enrique Humanes, Chief Executive Officer, Bunge Argentina.  "Successful installation of this process shows Bunge Argentina's continued commitment to leading edge process technologies that provide economic and environmental benefits."

"The implementation of Verenium's PLC technology at Terminal 6 combined with Alfa Laval's process, engineering and equipment supply capabilities, is the second large scale project we have completed together," said Bent Sarup,  General Manager of Alfa Laval's Vegetable Oil Technology activities. "Completion of the start up of Terminal 6's new process is further validation of our ongoing partnership with Verenium."

The Terminal 6 industrial facility has been built to take advantage of large-scale process efficiencies that enable maximum yields of oil and meal from soybeans at low cost. Integration of Verenium's enzyme further improves the plant performance because the oil loss in the enzyme-based process is lower than in non-enzymatic processes.

About Purifine

Verenium's patented and novel Purifine enzyme facilitates improved operating efficiency and reduction in byproducts by allowing a higher percentage of the crude vegetable oil extracted from seeds to be recovered and converted into edible oil or biodiesel. In conventional processing phospholipid impurities are removed as emulsified gums with an associated oil yield loss. Purifine enzyme works by reacting with the phospholipids releasing both the oil entrained in the gum and the oil-component of the phospholipids. Compared to other degumming methods, oil yield losses are reduced by up to 75% using Purifine enzymatic degumming, depending on the phospholipid content of the oil. Purifine PLC can also offer significant benefits to the refining process by improving operating efficiency, and reducing the need for harsh chemicals and other processing aids.

About Verenium

Verenium, an industrial biotechnology company, is a global leader in developing high-performance enzymes.  Verenium's tailored enzymes are environmentally friendly, making products and processes greener and more cost-effective for industries including the global food and fuel markets.  Read more at 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 Verenium's lines of business, operations, capabilities, commercialization activities, corporate partnerships, target markets 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 strategic focus, risks associated with Verenium's technologies, 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, the commercial prospects of the industries in which Verenium operates and sells products, Verenium's dependence on 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, and risks and other uncertainties more fully described in Verenium's filings with the Securities and Exchange Commission, including, but not limited to, Verenium's annual report on Form 10-K for the year ended December 31, 2009 and any updates contained in its subsequently filed quarterly reports on Form 10-Q.  These forward-looking statements speak only as of the date hereof, and Verenium expressly disclaims any intent or obligation to update these forward-looking statements.

Contacts:

SOURCE Verenium Corporation

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED