This board is for fundamental and technical discussion about Verenium Corporation, VRNM.
Verenium Corporation, formerly Diversa Corporation, is engaged in biomolecule discovery. The Company employs its enzyme discovery and evolution technologies to enable higher throughput and improved environmental outcomes. In addition to its internal and partnered research and development programs, the Company has a portfolio of commercialized enzyme products, as well as several late-stage product candidates. The Company's key areas of focus for internal product development are integrated solutions for the production of cellulosic biofuels, such as cellulosic ethanol, and specialty enzymes for biofuels, specialty industrial processes, and health and nutrition. It has formed alliances with companies, such as BASF, Bunge Oils, Cargill Health and Food Technologies, DSM, DuPont Bio-Based Materials, Syngenta AG, and Xoma, to complement its internal product development efforts. The Company has two inactive subsidiaries: Innovase LLC and TNEWCO Inc.
Verenium Corporation is a leader in the development and the commercialization of cellulosic ethanol, an environmentally-friendly and renewable transportation fuel, as well as higher performance specialty enzymes for applications within the biofuels, industrial, and animal nutrition and health markets.
Integrated capabilities: our competitive edge
The Company possesses integrated, end-to-end capabilities in pre-treatment, novel enzyme development, fermentation, engineering, and project development and is moving rapidly to commercialize its proprietary technology for the production of cellulosic ethanol from a wide array of feedstocks, including sugarcane bagasse, dedicated energy crops, agricultural waste, and wood products. In addition to the vast potential for biofuels, a multitude of large-scale industrial opportunities exist for the Company for products derived from the production of low-cost, biomass-derived sugars.
Verenium’s Specialty Enzyme business harnesses the power of enzymes to create a broad range of specialty products to meet high-value commercial needs. Verenium’s world class R&D organization is renowned for its capabilities in the rapid screening, identification, and expression of enzymes that act as the catalysts of biochemical reactions.
Cellulosic ethanol: first mover advantage
Verenium operates one of the nation’s first cellulosic ethanol pilot plants, an R&D facility, in Jennings, Louisiana and has recently entered the start-up phase at its 1.4 million-gallon-per-year demonstration-scale facility. In addition, the Company’s process technology has been licensed by Tokyo-based Marubeni Corp. and Tsukishima Kikai Co., LTD and has been incorporated into BioEthanol Japan’s 1.4 million liter-per-year cellulosic ethanol plant in Osaka, Japan -- the world’s first commercial-scale plant to produce cellulosic ethanol from wood construction waste.
Verenium and Marubeni are continuing to advance the commercialization of cellulosic ethanol projects utilizing Verenium’s proprietary technology in Asia with the opening of a three million-liter-per-year plant in Saraburi, Thailand. The cellulosic plant in Thailand is co-located with a facility that will produce ethanol from sugar-cane derived sucrose, which is widely abundant in the region.
Verenium Corporation Verenium Corporation Verenium Biofuels, LLC
55 Cambridge Parkway, 8th Floor 4955 Directors Place PO Box 389
Cambridge, MA 02142 San Diego, CA 92121 11107 Campbell Wells Road
TEL: 617.674.5300 TEL: 858.526.5000 East Highway 90
Jennings, LA 70546
The plant will make ethanol from energy cane, a variety of sugar cane bred specifically for ethanol production.
Verenium owns a robust intellectual property portfolio with patents covering our key technologies in the discovery, optimization, production and use of novel protein-based products. In addition, we maintain numerous composition of matter patents covering our novel enzyme products and product candidates. Verenium currently has over 300 issued patents and over 400 patents pending (as of June 2008).
5,939,250 Production of enzymes having desired activities by mutagenesis. 5,958,672 Protein activity screening of clones having DNA from uncultivated microorganisms 6,001,574 Production and use of normalized DNA libraries 6,168,919 Screening methods for enzymes and enzyme kits 6,171,820 Saturation mutagenesis in directed evolution 6,280,926 Gene expression library produced from DNA from uncultivated microorganisms and methods for making the same 6,344,328 Method for screening for enzyme activity 6,455,254 Sequence based screening 6,537,776 Synthetic ligation reassembly in directed evolution 6,632,600 Altered thermostability of enzymes
Located on a 140-acre company-owned site are Verenium’s Pilot and Demostration-scale plants.
Verenium operates a cellulosic ethanol pilot plant, a real-time research and development facility, in Jennings, Louisiana. Opened in 1999, the facility was capable of CF hemicellulose fermentations. During 2006 the company completed extensive upgrades on the pilot facility, enabling it to conduct combined C5 and C6 fermentations. The Jennings pilot facility is capable of processing approximately two tons of biomass per day into ethanol. It is operated as an R&D facility to improve the company’s process technology and to validate the company’s process on a wide variety of biomass feedstocks.
Next door to the pilot facility, Verenium has recently achieved mechanical completion of a 1.4 million gallon per year demonstration-scale plant - the first of its kind in the nation. Over the next few months, more than forty separate systems will be electronically energized. Operating teams have begun evaluations, and the project will move to validate the implementation of Verenium’s process and technology. By year-end, Verenium will move to fully optimize the demonstration plant.
Preparations are being made for Verenium’s first commercial-scale facilities, which are expected to produce 30 million gallons of ethanol per year. With the optimization of Verenium’s pilot and demo plants, the commercial plant development program is underway. Currently, a variety of sites are being explored for plant development in Florida, Louisiana, and Texas.
In addition, the Company’s process technology has been licensed by Tokyo-based Marubeni Corp. and Tsukishima Kikai Co., LTD and has been incorporated into BioEthanol Japan’s 1.4 million liter-per-year cellulosic ethanol plant in Osaka, Japan -- the world’s first commercial-scale plant to produce cellulosic ethanol from wood construction waste.
Developing A Pipeline of Commercial Projects Implementing First-Generation Cellulosic Ethanol Technology
Verenium is advancing the strategic development of a pipeline of sites in the Gulf region of the U.S. for its first series of commercial facilities.
Verenium’s Commercial Development team is actively working on developing a series of projects for 30 to 60 million gallon per year commercial-scale cellulosic ethanol facilities in the US Gulf region. Ultimately, the Company plans to expand its development globally, however, its initial focus is in the Gulf region, given the proximity to areas with strong growing conditions for high biomass dedicated energy crops and in some cases sugarcane bagasse.
As projects are being developed, critical areas of activity will focus on site feasibility, permitting, feedstock supply agreements, other commercial agreements, and financing. The current projects that the Company has under development in the Gulf region have the following key attributes:
Energy crops and sugar cane bagasse feedstocks
Local agricultural partners
Good logistical interfaces
Potential options for co-locating with other facilities
Partnerships are key
As the Company continues to develop commercial projects, bringing partners into the mix will be a critical component of the overall strategy. The goals of these partnership arrangements will be to bring additional, specialized skills into the value chain, particularly in the areas of agronomics, engineering and construction, and marketing / off take as a means for helping to both de-risk and accelerate the development of each project.
Verenium expects to continue to advance a pipeline of multiple sites, and to have its first commercial plant ready for construction by the middle of 2009.
New Secretary of Energy on cellulosic ethanol:
Power Point Presentation:
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