Renewable Corporation (RNWB): 2008-07-29 16:16 ET

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Tuesday, 07/29/2008 6:21:16 PM

Tuesday, July 29, 2008 6:21:16 PM

2008-07-29 16:16 ET - News Release

Enables Production of Chemicals from Renewable Sugarcane Feedstock as an Alternative to Petroleum

Company Website: http://www.industrialbiotechnology.com
SARASOTA, Fla. -- (Business Wire)

Industrial Biotechnology Corporation, (IBC), (Pink Sheets:IBOT) is pleased to announce the Ethanol Chemicals ALCHEMx Production Platforms™. Thisproprietary process integrates technologies, manufacturing methods, and distribution to produce eco-efficient and cost effective chemicals utilizing renewable resources as an alternative to petroleum. This sustainable solution meets global demand to reduce global warming and decrease dependence on foreign oil.

Renewable Chemicals Corporation, an IBC subsidiary, will use the ALCHEMx Production Platforms™ to convert sugarcane based ethanol to ethylene. The bio-ethylene can then be converted into various downstream chemicals including ethylene oxide, low density and high density polyethylene, styrene, and polystyrene. Existing manufacturing infrastructure can be utilized that now produce these same chemicals from petroleum based ethylene.

“The conversion of ethanol into chemicals is not a new process or technology, some of the first plastics produced were originally made from ethanol. Due to increasing petroleum costs and global warming, this is a now a very compelling, eco-efficient alternative to traditional petrochemical production,” stated Andrew Badolato, IBC Chairman and CEO.

Industrial Biotechnology Corporation, (IBC) provides products, services and technologies using renewable resources as an alternative to petroleum. IBC utilizes sugarcane based ethanol which is considered the leading cost efficient, energy balanced and environmentally sustainable feedstock source, when compared to petroleum and other alternative fuels. IBC will provide these cost competitive, environmentally responsible solutions via its operating subsidiaries Renewable Chemicals Corporation (RCC) and Renewable Fuels of America Corporation (RFAC)