€6.2 million in funding allocated by ADEME to Global Bioenergies’ Prénidem project

€6.2 million in funding allocated by ADEME to Global Bioenergies’ Prénidem project

€4.4 million allocated to Global Bioenergies, €1 million allocated to Ajinomoto Foods Europe and €0.7 million allocated to ARD, the other two members of the consortium

Funding in the form of 60% subsidy (non-repayable) and 40% repayable advances, subject to the achievement of technical and commercial milestones, to be paid in several instalments over the duration of the project, including an initial 15% instalment.

Evry, 14 March 2023 – Global Bioenergies announces that it has received support from the French government as part of the "Biobased products and industrial biotechnologies” call for projects led by ADEME, in partnership with Ajinomoto Foods Europe, leader in industrial fermentation, and ARD, specialist in scale-up and exploitation of biotechnological processes. The project runs until September 2025.

The Prénidem project aims to implement the "two-step” production process on which Horizon 2 is based. The first step involves the conversion of residual sugars into DMA (also known as "prenic acid”). Production of this metabolic intermediate is carried out in an industrial-scale fermenter operated by Ajinomoto Foods Europe. The second step consists of converting this DMA into isobutene in the production unit owned by Global Bioenergies and operated by ARD at its Pomacle-Bazancourt facility.

The main goal of the project is to promote commercial applications of biobased isobutene derivatives in the make-up market as well as the high octane renewable fuel additives currently sought by Formula 1 stakeholders.

The second goal is to optimise the technology in order to reduce the production costs of biobased isobutene and its derivatives.

The project will boost the development of new green value industries in France by addressing the strategic challenges of economic sovereignty, income generation and employment.

Yves Duquesnoy, Deputy CEO of Ajinomoto Foods Europe, commented: "Our collaboration with Global Bioenergies started in 2021 and has gone from strength to strength since then: we have managed to scale up the DMA biological production process to 160,000 litres. We are very glad to be able to optimise industrial production thanks to government support.”

Philippe Aubry, Deputy CEO of ARD, said: "We have been working with Global Bioenergies since 2014 and as part of this project we bring our know-how to contribute to the industrialization of this radically innovative process. We produce the biocatalyst for the second step on an industrial size fermenter (180,000 litres), and carry out the second step itself (bioconversion of DMA into isobutene) on the Global Bioenergies reactor.”

Bernard Chaud, Head of Industrial Strategy at Global Bioenergies, said: "This government funding will allow us to optimise our Horizon 2 production chain and prepare the commercial roll-out of the ViaViridia plant, which corresponds to our Horizon 3, by offering significant volumes of biobased isobutene and derivatives to our customers and prospects.”

About GLOBAL BIOENERGIES

Global Bioenergies converts plant-derived resources into compounds used in the cosmetics industry, as well as the energy and materials sectors. After launching the first long-lasting and natural make-up brand LAST^® in 2021, Global Bioenergies is now marketing Isonaturane^® 12, its key ingredient, to major cosmetics companies to improve the naturalness of their formulas whilst improving their carbon footprint. In the long run, Global Bioenergies is also aiming at cutting CO₂ emissions in the aviation and road sector and thereby curb global warming. Global Bioenergies is listed on Euronext Growth Paris (FR0011052257 - ALGBE).

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• Global Bioenergies - €6.2 million in funding allocated by ADEME to Global Bioenergies’ Prénidem project