CAMBRIDGE, Mass., Dec. 14, 2010 /PRNewswire-FirstCall/ —
Verenium Corporation (Nasdaq:
VRNM), a pioneer in the development and commercialization of
high-performance industrial enzyme solutions, today
announced key 2010 accomplishments and 2011 Company goals and
financial guidance.
“2010 has been a significant year of transition for Verenium as
we moved from being biofuels oriented to being focused on building
the next leading industrial enzymes company,” said Carlos Riva,
Chief Executive Officer at Verenium. “We believe we are now well
positioned – both operationally and financially — to execute
on our business plan and to achieve our goals.”
Following are key milestones achieved in 2010.
2010 HighlightsOperational:
D iversified revenue base by growing the Grain Processing and
Oilseed Processing product lines, reducing the proportion of
revenue generated by our Animal Health and Nutrition enzyme;
Launched Deltazym® Gluco-Amylase for fuel ethanol production,
which together with Fuelzyme® Alpha-Amylase, satisfies the
complete enzyme needs of corn ethanol producing customers; Launched
Xylathin™, a highly active enzyme designed to significantly
improve the economics of fuel ethanol production from cereal grains
such as wheat; Obtained regulatory approval to sell Purifine®
PLC in China, which together with existing approvals to sell the
enzyme in Argentina, Brazil and the US, covers all major oilseed
processing markets; Molinos Rio de la Plata, the world’s largest
soybean crushing plant located in Argentina, began use of
Verenium’s Purifine enzymatic degumming process; Extended a
successful marketing partnership with Alfa Laval and entered into a
new marketing partnership with Desmet Ballestra, both of which
leverage global sales forces to market Purifine PLC enzyme for
degumming e
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