News

Biogasol attracts €15m
Enlarge image

FundingDenmarkCyprus

Biogasol attracts €15m

13.11.2012 - Danish Biogasol receives €15m equity and state money to test an lignocellulosic ethanol-production technology in a large-scale setting.

The renewable energy company BioGasol ApS from Ballerup has raised €15m. One third of the sum is new equity financing consisting of a co-investment by the current majority shareholder, Cyprus-based Fjord Capital Partners Ltd, and Unipension, a leading Danish pension fund managing assets of more than €12bn. €10m stems from a grant which has been approved by the Energy Technology Development and Demonstration Program (EUDP), a part of the Danish Energy Agency. BioGasol owns an appreciated, innovative pre-treatment reactor design for the cost-efficient and highly controlled conversion of lignocellulosic biomass into replacements for conventional fuels and other oil-based materials. The money is supposed to be used for transfering BioGasol's proprietary technology into demonstration scale. The large-scale testing plant will be built in Denmark starting in Q1/2013. "Our new demonstration facility will be co-financed by our industrial partners, SweetWater Energy in the US and a Scandinavian strategic partner," stated BioGasol's CEO Anders Weber.

Biogasol ApS is a Danish biotechnology company. Since its inception in 2006 as a spinout from the Technical University of Denmark, it already has successfully developed a pentose/hexose co-fermentation technology on pilot scale that makes use of metabolically engineered thermophilic bacteria. Biogasol develops so-called 2nd generation bioethanol by focussing on agricultural waste and wood as a source of lignocellulose.

Italian pioneer Chemtex group on the other hand is about to open a US bioethanol plant which will use non-food grasses grown on marginal land. Interestingly, Chemtex relies on the biomass processing enzymes produced by another Danish company, Novozymes. Biogasol is also uses some Novozymes enzymes. However, the company also owns proprietary and patented organisms like a heat-loving thermophilic bacterium isolated 20 years ago from a thermal spring in Iceland or a xylose-converting bacterium.

© eurobiotechnews.eu/ml

http://www.european-biotechnology-news.com/news/news/2012-04/biogasol-attracts-eur15m.html

PoliticsEU

15.09.2014 Jean Claude Juncker, the European Commission President-elect revealed his new Commissioners last week, whilst announcing a change in the units dealing with medicines, medical devices and health technology.

BiosimilarsGermanyFrance

12.09.2014 The 2011 collaboration of Boehringer Ingelheim and Eli Lilly is bearing fruit. An insulin biosimilar developed through the partnership has now been approved in Europe - the first-ever generic version of this class.

FinancingNetherlands

11.09.2014 Cystic fibrosis specialist Proqr Therapeutics has set the terms for its upcoming IPO at US-American stock exchange NASDAQ.

Clinical TrialsUKSweden

09.09.2014 In the midst of the hustle and bustle of the European Respiratory Society’s International Congress 2014, Astrazeneca quietly announced the disappointing results of its latest benralizumab study.

BusinessDenmark

04.09.2014 After their arthritis product’s Phase IIb failure, Novo Nordisk A/S is pulling out of all research and development activities within inflammatory disorders.

BusinessBelgiumIrelandSwitzerland

02.09.2014 In the face of declining revenue, Belgian biopharmaceutical company Thrombogenics has decided to spin out its cancer research and development activities.

ResearchUKSwitzerlandItaly

29.08.2014 Just a week ago, Glaxosmithkline defused the WHO’s claim that an Ebola vaccine could be ready by 2015. Now, the British company’s own candidate vaccine is to be rushed to human trials with the help of funding from an international consortium.

BusinessGermany

24.08.2014 Germany's Morphosys is licensing a preclinical bi-specific antibody for the treatment of prostate cancer from Emergent Biosolutions. The US developer will rake in up to €138m for the commercialisation rights to the compound.

BusinessUK

20.08.2014 Biopharmaceutical contract manufacturer Fujifilm Diosynth Biotechnologies is expanding its cell culture manufacturing capacity further with a new 2,000l single-use bioreactor at the company’s site in Billingham, UK.

Events

All Events

Current issue

All issues

Product of the week

Products

Stock list

All quotes

TOP

  • THERAMETRICS0.09 CHF12.50%
  • PAION2.99 EUR11.15%
  • CO.DON3.00 EUR5.63%

FLOP

  • 4SC1.09 EUR-6.03%
  • STRATEC BIOMEDICAL39.80 EUR-3.40%
  • ADDEX3.22 CHF-3.30%

TOP

  • SANTHERA91.65 CHF43.0%
  • CO.DON3.00 EUR26.1%
  • PAION2.99 EUR20.1%

FLOP

  • EVOTEC3.07 EUR-18.1%
  • 4SC1.09 EUR-18.0%
  • MEDIGENE4.06 EUR-14.0%

TOP

  • SANTHERA91.65 CHF1987.7%
  • CO.DON3.00 EUR244.8%
  • PAION2.99 EUR187.5%

FLOP

  • CYTOS0.24 CHF-94.0%
  • 4SC1.09 EUR-43.2%
  • MERCK KGAA67.58 EUR-41.3%

No liability assumed, Date: 15.09.2014