Verenium Awarded U.S. Department of Energy Grant to Fund Jennings, Louisiana Demonstration-Scale Plant

Wall Street Journal - MarketWatch
- Supports continued advancement of cellulosic ethanol technology -

Last update: 5:07 p.m. EDT July 14, 2008
CAMBRIDGE, Mass., July 14, 2008 /PRNewswire-FirstCall via COMTEX/ -- Verenium Corporation (VRNM:verenium corporation com) , a pioneer in the development of next-generation cellulosic ethanol and high-performance specialty enzymes, today announced that it has been awarded a grant from the U.S. Department of Energy (DOE) under a $40 million program to support the development of small-scale cellulosic ethanol biorefinery plants. The Company will now begin discussions with the DOE to determine the amount of the award.

Demonstration-scale facilities are a critical development step to scaling and validating cellulosic technology as the industry advances toward the commercialization of next-generation ethanol. Verenium is one of two companies that were selected for this round of DOE grants and will utilize the funds to support ongoing activities at its 1.4 million gallon per year demonstration-scale facility in Jennings, LA. The grant was announced today by the Department of Energy.

Read the full story