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Green Biologics secures £1.58 million to develop Next Generation Biofuel
Company marks opening of new laboratory facility


PRESS RELEASE – 17 OCTOBER 2007

GREEN BIOLOGICS LTD

Green Biologics (GBL), an Oxfordshire industrial biotechnology company developing ‘next generation’ biofuels, has raised £1.58 million. The funding round involved existing shareholders as well as new investors, Carbon Trust Investments and Oxford Capital Partners who led the investment round. The Company has also marked the opening of a new laboratory facility at its headquarters at Milton Park, Oxfordshire.

GBL is developing Butafuel™, a superior and more sustainable liquid biofuel for transportation. ButafuelTM is based on an alcohol called butanol produced by a naturally occurring microbe in a sugar fermentation process that was first commercialised in the UK during the First World War but largely displaced by the 1960s with a cheaper petrochemical method. In addition to butanol, the fermentation process also produces acetone, an important solvent and chemical precursor for polymers and plastics.

GBL is ‘recommercialising’ the bio-butanol fermentation process by applying its skills in microbiology, molecular biology and fermentation, and has developed novel microbes and advanced high temperature fermentation processes. In addition, the Company targets waste feedstocks for fermentation from agricultural and industrial processes, such as paper and pulp, sugar processing, biodiesel production and food waste. This reduces the need for expensive waste treatment and diverts waste away from landfill. Utilisation of waste feedstocks for fermentation is more sustainable and environmentally friendly than use of food crops such as sugar beet, sugar cane, maize and wheat, the current feedstocks for bio-ethanol, a “first generation” biofuel. By optimising the fermentation process, and using cheaper waste feedstocks, GBL aims to achieve a two to three fold reduction in cost.

Green Biologics will use part of the new funding for a scaled-up, pilot demonstration of its proprietary fermentation process for bio-butanol on a range of model waste feedstocks in its extended laboratory facilities.

Dr Edward Green, Founder and Chief Executive Officer, of Green Biologics said: “We are delighted to have secured the new investment we need to scale up our butanol fermentation process. It is great to have the support of our existing shareholders and we welcome Carbon Trust Investments Limited and Oxford Capital Partners on board as new investors.

“First generation” biofuels such as bio-ethanol and bio-diesel have their limitations. These biofuels do not fit neatly into the existing fuel infrastructure and there are some concerns over their sustainability and longer term environmental impact. However, they are a good start and pave the way for “second generation” biofuels, such as butanol, which is a better fuel offering greater sustainability and environmental benefits. We believe that our Butafuel™ product will supersede “first generation” biofuels within five to ten years as a fuel extender and it ultimately has the potential to completely replace fossil fuels for road and air transport.”

Jonathan Bryers, Partner at Carbon Trust Investments, said: “Biofuels that are both cost effective and renewable will have a key role to play in creating a low carbon economy in the UK. The market is clearly interested in advanced biofuel technologies that can cost effectively process non crop feedstocks and in this case generate butanol with its associated benefits over ethanol. A key part of the Carbon Trust’s role is to provide investment in exciting companies like Green Biologics in order to bring low carbon businesses like this to market more quickly and we are delighted to come on board as a new investor.”

Dr Victor Christou, Investment Manager at Oxford Capital Partners, said: “Strong IP and know-how coupled with a unique technology skill base and proprietary micro-organism library means that Green Biologics is one of the most promising companies in the rapidly gro


Publisher Contact Information:

Green Biologics Limited (GBL)
44 (0)1865 811199
m.henry@oxin.co.uk

Company profile of Green Biologics Limited (GBL)
Past press releases of Green Biologics Limited (GBL).

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