Renewable Corporation (RNWB)

[Centaurs]

August 26, 2008 - 3:43 PM EDT

IBOT 1.10
Industrial Biotechnology Corporation and the Plastics Exchange Announce Strategic Partnership
Industrial Biotechnology Corporation, (IBC) (Pink Sheets:IBOT) has formed a strategic partnership with North America’s leading spot plastic resin market, The Plastics Exchange. IBC’s subsidiary, Renewable Chemicals Corporation (RCC) will utilize the expertise of The Plastics Exchange in financial modeling, business development and commodity hedging for sugarcane based ethanol chemicals as an alternative to petroleum.

Michael Greenberg, CEO of The Plastics Exchange, said, “I see a very large market developing for renewable plastics and packaging. With the green movement gaining momentum, more and more companies are embracing an environmentally friendly solution. The Plastics Exchange is committed to help develop market awareness and sell the much anticipated Polyethylene resin produced with sugar-based ethanol feedstock pioneered by Industrial Biotechnology Corporation.”

“The Plastics Exchange is a great supply chain resource partner for IBC for evaluating, assessing and delivering renewable chemicals using real time data and pricing from the petrochemical and packaging industries,” says IBC CEO Andy Badolato. “The Plastics Exchange brings accurate and in-depth insight to our strategic and financial business modeling that will increase shareholder value and our competitive advantage.”

The Plastics Exchange is a real-time marketplace for anonymously buying and selling domestic and international commodity grade resin (HDPE, LDPE, LLDPE, GPPS, HIPS, HoPP, CoPP). Through trading relationships with a large network of major producers, distributors, traders and brokers, they have access to a wide spectrum of spot and warehoused plastic resin offerings. The Plastics Exchange acts as a clearinghouse to complete trades and acts as principals to handle the credit and logistics. They assure the integrity of the market by guaranteeing the product quality, delivery and payment of every transaction. The Plastics Exchange also provides in-depth research and news coverage of the resin marketplace. www.theplasticsexchange.com

Industrial Biotechnology Corporation (IBC) provides products, services and technologies using renewable resources as an alternative to petroleum and traditional manufacturing methods. IBC production processes are eco-efficient and apply and adhere to sustainable practices and standards. IBC accomplishes this with the ALCHEMx Production Platforms™, which integrates technologies, sustainable manufacturing and distribution with supply chain partners to meet customer needs and pricing requirements. 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.

Forward-Looking Statements

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Exchange Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties, including, without limitation, the ability to obtain financing and regulatory and shareholder approval for anticipated actions.

Industrial Biotechnology Corporation, Sarasota
Craig McClure, Investor Relations, 941-925-2500 X 3084
[e-mail]



Source: Business Wire (August 26, 2008 - 3:43 PM EDT)

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