Sep 19 2008
Green Biologics Ltd (GBL), the Oxfordshire industrial biotechnology company developing renewable chemicals, has been listed in the prestigious Cleantech 100 Awards compiled by Library House, a leading technology ventures and investors research organisation.
The listing comes as GBL’s Chief Executive, Sean Sutcliffe, announced the launch of a £3.5 million fundraising round as GBL rolls out its technology to global markets.
As part of this roll-out, GBL also announces the signing of an agreement between GBL and Laxmi Organic Industries to develop and construct a commercial scale demonstrator for biobutanol in India. Laxmi Organic Industries is a leading Indian biochemicals manufacturer that ranks among the world’s top 10 producers of ethyl acetate.
The Cleantech 100 represents the top group of private cleantech companies in Europe, deemed to represent the hottest prospects for the future and selected using Library House’s data filters and an expert panel of cleantech investors and company leaders. With the selection criteria including growth potential and environmental impact, the Cleantech 100 companies are believed to be those firms that are most likely to change the world for the better.
GBL has developed a unique and sustainable fermentation technology for the production of biochemicals from waste and by-product feedstocks, including using molasses, a by-product of sugar production.
During the past year, GBL has completed a series of important milestones relating to the development of its butanol production process, which include the installation of a fully-operating 300 litre pilot plant for butanol production at its Milton Park headquarters, the installation of a 140 litre pilot plant for thermophile fermentation testing and new patent filings.
CEO of GBL, Sean Sutcliffe, said: “We are honoured to receive this Award and delighted that it recognises the substantial impact Green Biologics can have on the global biochemicals and advanced biofuels sector through the adoption of our unique technology for the conversion of by-products and waste feedstocks to butanol. “This Award comes at a particularly interesting time for GBL as we take a major step forward in the commercialisation of our technology with the successful conclusion of our agreement with Laxmi Organic Industries. We will be working with Laxmi to develop and build a commercial demonstrator plant in Mumbai that will be run on molasses, a sustainable by-product from the Indian sugar industry, and produce 1,000 tonnes of butanol per annum. We are aiming to have the plant fully operational in 2010.”
Commenting on the company’s funding round, Mr Sutcliffe said: “We are looking to secure £3.5 million. This funding will enable us to progress the development of our commercial demonstrator plant in collaboration with Laxmi as well as to build sales and support operations in key markets and make further advancements with our technology platform.”
Chairman of GBL, Dr Andrew Rickman OBE, who has also been an investor in the company since its early days, said: “Our agreement with Laxmi, combined with the significant milestones GBL has achieved over the past year and the recognition conferred by the Cleantech 100 Award, is a welcome validation of our approach in focusing on the commercialisation of our biobutanol production process. We are addressing a global market where the UK, through companies like GBL, has a leading technology to offer.”