Global Bioenergies the industrial biology company that develops sustainable routes to light olefins announces a new 740000 euros financing from OSEO a French SME-funding state agency to support the creation of an isobutene production strain compatible with industrial pilot testing.
This is OSEO’s third financing on the Company’s program aiming at the conversion of renewable resources into isobutene. This financing comes in the form of a 740000 euros interest-free loan to be reimbursed from 2016 onwards. OSEO’s financing of various development stages of Global Bioenergies’ isobutene program amounts since 2009 to a total of 2 million euros.
The main objective of this new phase is to obtain a series of isobutene production strains and to conduct laboratory pilot tests. Chemical engineering studies are also carried out in preparation of the industrial pilot phase which will soon lead to the production of isobutene at greater scale.
Marc Delcourt CEO of Global Bioenergies declares: “This renewed support attests of OSEO’s trust in our program. This new phase was initiated last September and has already led to the creation of improved production strains. The isobutene program progresses rapidly through this transition phase between R&D and industrialization and we look forward to carrying out tests at greater scale.”
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 yield of its process and prepares the phase dedicated to industrial pilot testing. The company recently replicated this success to propylene and butadiene and is also looking to continue with other members of the gaseous olefins family key molecules at the heart of petrochemical industry.