EVRY, France, June 11, 2015 (GLOBE NEWSWIRE) -- Global Bioenergies obtains new 1.4 million euro financing from Bpifrance on the Isobutene program.
Isobutene is one of the key petrochemical building blocks. Fifteen million tons of isobutene are derived from oil each year and converted into fuels, plastics and elastomers. Global Bioenergies is developing a synthetic biology process to produce isobutene alternatively, from renewable resources (sugar, cereals and agricultural or forestry waste).
Global Bioenergies announces today having been granted a "Zero Percent Interest Innovation Loan" (Prêt à Taux Zéro Innovation) from Bpifrance to adapt its isobutene process to certain specific industrial environments. This financing, which allows Global Bioenergies to strengthen its leadership in the field of fermentative isobutene, is structured in the form of a 1.4 million euro interest free loan over seven years.
Marc Delcourt, CEO of Global Bioenergies declares: "It is with this second version of the technology in mind that we have recently created a new subsidiary in Germany named IBN-Two. Its purpose is to gather, from German industrial and financial actors, the funds required to build and operate Germany's first fermentative isobutene production plant".
About GLOBAL BIOENERGIES
Global Bioenergies is one of the few companies worldwide, and the only one in Europe, that is developing a process to convert renewable resources into hydrocarbons through fermentation. The Company initially focused its efforts on the production of isobutene, one of the most important petrochemical building blocks that can be converted into fuels, plastics, organic glass and elastomers. Global Bioenergies continues to improve the performances of its process, operates its industrial pilot, has begun the construction of its demo plant in Germany, and prepares the first full-scale plant through a Joint-Venture with Cristal Union, named IBN-One The company also replicated its achievement to propylene and butadiene, two members of the gaseous olefins family, key molecules at the heart of petrochemical industry. Global Bioenergies is listed on Alternext, Euronext Paris (FR0011052257 - ALGBE).
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Press release http://hugin.info/166909/R/1927974/692107.pdf