Dyadic (AMEX:DIL)
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From Jul 2019 to Jul 2024
Dyadic International, Inc. (AMEX:DIL),
a biotechnology company, announced today that it has joined one of
Europe's leading producers of bioethanol, Royal Nedalco, and other
partners in R&D projects funded by the Netherlands government to develop
technologies to produce ethanol from sugar beet pulp and wheat bran.
Dyadic Nederland BV, Dyadic's subsidiary in Zeist, the Netherlands, will
focus on the development of optimal enzyme preparations for the
extraction of sugars from these feedstocks.
Jan Verdoes, Ph.D., Research Director, Dyadic Nederland BV, said, "Sugar
beet pulp, with its currently low value, high volume at centralized
locations and abundant carbohydrate content, is an attractive feedstock
for the production of bioethanol. Wheat bran, a byproduct of wheat
processing, is another attractive bioethanol feedstock. However, the
enzyme preparations to economically extract sugars from these materials
and the yeasts required to ferment these unusual sugars for large-scale
ethanol production need to be further developed. Our research projects
are designed to overcome these technical problems and contribute to the
development of economically viable renewable fuels for the future."
Funding for the projects will be provided by grants from the Ministry of
Economic Affairs in the Netherlands, in the Energy Research Program EOS,
managed by SenterNovem (see Ref). In addition to Dyadic Nederland BV,
the four-year sugar beet pulp collaboration will include Wageningen
University for characterization of enzyme-treated substrates, Delft
University for yeast fermentation engineering, the Energy Research
Center of the Netherlands for process modeling and economics, and Royal
Nedalco for commercial testing of the process. For the two-year wheat
bran collaboration, Dyadic joins Wageningen University for
characterization of plant cell wall polysaccharides, BIRD Engineering
for fermentation technology, and Royal Nedalco for commercial process
testing. Royal Nedalco, headquartered in Bergen op Zoom, the
Netherlands, is a subsidiary of Cosun, a producer of natural ingredients
and foodstuffs for the international food industry with annual revenue
of approximately €1.3 billion.
Jan de Bont, Director of R&D at Nedalco and Project Manager for both
projects, added, "We have assembled outstanding teams for these
projects, featuring world-class technology, scientific expertise, and
commercial know-how. We look forward to working together to address the
significant market opportunities we all see in the emerging biofuels
industry."
"While we expect our share of funding for these collaborative research
projects to contribute only modestly to Dyadic's overall R&D budget, the
real impact is potentially far greater. Not only will our work on the
projects advance Dyadic's proprietary enzyme technologies, we also are
pleased to be involved in efforts that have the potential to deliver
significant progress toward the goal of reducing the world's dependence
on petroleum in favor of renewable, environmentally friendly biofuels,"
said Glenn E. Nedwin, Ph.D., Chief Science Officer of Dyadic. "Our R&D
subsidiary in the Netherlands enables us to take advantage of
opportunities to participate in such government-funded research projects
with leading companies and academic research groups in Europe, and we
look forward to participating in additional collaborations."
About Dyadic
Dyadic International, Inc. is engaged in the development, manufacture
and sale of biological products using a number of proprietary fungal
strains to produce enzymes and other biomaterials, principally focused
on a system for protein production based on the patented Chrysosporium
lucknowense fungus, known as C1. Dyadic is applying its technologies
to produce enzymes for use in converting various agricultural products
(e.g. corn) and waste products (e.g. switch grass, wheat straw, sugar
cane bagasse, etc.) into fermentable sugars, which can then be used in
the production of traditional and cellulosic ethanol as well as other
products currently derived from petroleum. Dyadic's C1 technology also
is being developed to facilitate the discovery, development and
large-scale production of human antibodies and other high-value
therapeutic proteins. Dyadic currently sells more than 45 liquid and dry
enzyme products to more than 200 industrial customers in approximately
50 countries for the textile, pulp & paper and animal feed industries.
Cautionary Statement for Forward-Looking Statements
Certain statements contained in this press release are
"forward-looking statements." These forward-looking statements involve
risks and uncertainties that could cause our actual results, performance
or achievements to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. For a discussion of these risks and uncertainties, please
see our filings from time to time with the Securities and Exchange
Commission, which are available free of charge on the SEC's web site at http://www.sec.gov,
including our Annual Report on Form 10-KSB for the year ended December
31, 2005, and our subsequent filings with the SEC. Except as required by
law, we expressly disclaim any intent or obligation to update any
forward-looking statements.
Reference EOS: http://www.senternovem.nl/English/Products_Services/Towards_
Sustainable_Energy/Energy_Research_Subsidy.asp. (Due to its
length, this URL may need to be copied/pasted into your Internet
browser's address field. Remove the extra space if one exists.)