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Sábado, 19 de octubre de 2024

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Abengoa Bioenergía seals a deal with Dyadic to research on ethanol and reduce costs

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Abengoa Bioenergy R&D (ABRD), has announced a three year commitment and a share exchange deal with Dyadic International, Inc., an American biotechnology firm. According to the acquisition contract, Abengoa Bioenergía is commited to investing 10 million euros in Dyadic, issuing some 2,136,752 ordinary shares at $ 4.68 per share. The deal remains subject to the approval from the American Stock Exchange

Dyadic will use the revenues to finance R&D aimed at developing a cost effective way to produce enzimes for ethanol production from Abengoa Bioenergía ethanol over production.

The agreement include a clause for Dyadic to use its own technology to develop one or several production systems for ABRD exclusive enzime mixe. If Dyadic is able to develop this enzime production system for Abengoa Bioenergía, Dyadic will be entitled to receive licence, technological transfer and ethanol sale commissions.

"We are very happy for joining this society with Abengoa Bioenergía, leader in cellulosic ethanol, besides we are pleased to welcome ABRD as strategic investor, research collaborator and Dyadic shareholder", said Mr Mark Emalfarb, President and CEO of Dyadic.

Also, Mr Javier Salgado, President and CEO of Abengoa Bionergía, indicated: "This investment and research collaboration with Dyadic represents a key factor within Aengoa Bioenergía´s biomass program, namely in the specialized enzimes field".

For additional information:
www.dyadic.com
www.abengoa.com
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