University of Florida Nets $66,000 in Biomass Royalties

T. PETERSBURG, Fla., July 19 /PRNewswire-FirstCall/ -- Verenium
Corporation (Nasdaq: VRNM), a leading developer of biofuels derived from
low-cost, abundant biomass and a developer of specialty enzyme products,
today presented the University of Florida a $66,000 royalty check for its
patented cellulosic ethanol technology.
The ceremonial presentation was made at the Florida Department of
Agriculture and Consumer Services' 2007 Farm-to-Fuel Summit -- an event
aimed at helping Florida farmers and ranchers produce biofuel crops to help
reduce the nation's dependence on foreign oil.
The royalty payment is from the first commercial production of biomass
ethanol produced using patented technology developed by Dr. Lonnie Ingram,
a Distinguished Professor in UF's Department of Microbiology and Cell
Science, and Director of the Florida Center for Renewable Chemicals and
Fuels, and licensed to Verenium. BioEthanol Japan -- a joint venture of
Marubeni Corp. and Tsukishima Kikai Co., LTD -- is using the technology
under license from Verenium in their 1.4 million liter-per-year cellulosic
ethanol plant in Osaka, Japan. It is the world's first commercial plant to
produce cellulosic ethanol from wood construction waste.
Cellulosic ethanol is an environmentally friendly and renewable
transportation fuel produced from a wide array of feedstocks, including
sugarcane bagasse, dedicated energy crops, agricultural waste, and wood
products.

P.R. Newswire, July 20, 2007