Dyadic receives funding for new advanced biofuels program

By Dyadic International Inc. | May 14, 2015

Dyadic International Inc., a global biotechnology company focused on the discovery, development, manufacture and sale of enzymes and other proteins for the bioenergy, biobased chemicals, biopharmaceutical, food and feed industries, has announced details regarding 2G BIOPIC, a new advanced biofuels project funded by the European Commission's Horizon 2020 program. In the 2G BIOPIC project, Dyadic's subsidiary Dyadic Netherlands B.V. will work in collaboration with Compagnie Industrielle de Matiere Vegetale and five other industry partners to develop, construct and operate a large demonstration-scale facility that produces ethanol from biomass.

Danai Brooks, chief operating officer of Dyadic, said,  "We are pleased to continue working closely with CIMV, and believe that Dyadic's C1 enzymes will play a critical role in the 2G BIOPIC project success. The aim of 2G BIOPIC is to demonstrate the performance, reliability and sustainability of producing bioethanol from agriculture waste and wood. The demonstration plant built in the 2G BIOPIC program will process one ton of biomass per hour, or about 50 times the size of the CIMV pilot plant upon which the project is based. Successful funding of the 2G BIOPIC program further highlights the strength of Dyadic's C1 Expression System in the field of advanced biofuels."

Emmanuel Dutournier, chief financial officer of CIMV, member of the board of directors and 2G BIOPIC program coordinator, continued, "2G BIOPIC is the second EU funded program where we are collaborating with Dyadic Netherlands. The first program Biomimetic, which deals with depolymerization of our Biolignin, opens up many opportunities and we look forward to furthering our work together with the Dyadic team. We believe that the Dyadic and CIMV technologies are highly complementary, as Dyadic's C1 enzymes work particularly well with the purer plant material produced from CIMV's biomass pretreatment technology."

Wim van der Wilden, general manager of Dyadic Netherlands, stated, "Enzymes play a critical role in converting biomass, including agricultural waste and wood, into bioethanol. They break down cellulose and hemicellulose, major components of all plants, into simple, fermentable sugars. Dyadic's CMAX enzymes offer an industry-leading level of performance across very broad temperature and pH ranges. Using our patented and proprietary C1 technology platform, we have been able to dramatically reduce costs and improve efficacy of our product line, which is now on its fifth generation CMAX5. In the 2G BIOPIC project, we expect to tailor our commercial CMAX enzyme to 2G BIOPIC's pretreated biomass feedstock to further increase enzyme effectiveness and reduce costs."

The grant provides that Dyadic Netherlands will be paid a total of approximately €1 million ($1.14 million) over the three year term of the project. The amount includes an upfront payment of €439,819 which the company received May 13.