GLOBAL BIOENERGIES: Construction of the German demo plant started. Additional 4.4 million euros financing secured
(Thomson Reuters ONE) -
GLOBAL BIOENERGIES: Construction of the German
demo plant started
Additional 4.4 million euros financing secured
Evry, March 31(st), 2015 - Global Bioenergies (Aternext: ALGBE) announces having
obtained a 4.4 million euro loan from a consortium of four French banks to
complete the financing of its demo plant. The construction phase begins today
and will last one year.
These past two years have seen Global Bioenergies focusing on scaling up its
bio-production process to isobutene. A first phase has consisted in the
construction of an industrial pilot on the agro-industrial site of Pomacle-
Bazancourt. Successful start-up was achieved in 2014 and the pilot is now fully
operational.
The following phase consists in the installation of a demo plant on the
petrochemical site of Leuna, near Leipzig in Germany. Global Bioenergies has
recently announced having received the corresponding engineering package.
The company today announces the launch of the demo plant's construction
alongside the reception of a 4.4 million euro loan reimbursable over 5 years.
This loan has been secured from a consortium composed of BNP Paribas, Société
Générale, CIC and Bpifrance. It is covered by guarantee funds of the Ile-de-
France Region managed by Bpifrance.
This new financing will cover the purchase of a complete fermentation unit,
comprising an inoculation fermenter, a propagation fermenter, and a 5,000L
production fermenter. Each are fully instrumented and surrounded by satellite
vessels. This unique installation has been specifically designed for the
production of gaseous hydrocarbons. It will be installed on the Fraunhofer CBP
site within the Leuna refinery. The demo plant's operation will begin in 2016
under the supervision of Global Bioenergies GmbH, a Leipzig-based, 100%-owned
subsidiary of Global Bioenergies SA.
The demo plant's financing is also supported by a 5.7 million euro subsidy
granted end 2013 by the German Ministry for Education and Research (BMBF). Most
of this subsidy is still to be received.
Ales Bulc, General Manager of Global Bioenergies GmbH comments: "The
construction phase of our demo plant now begins. It will be delivered in 2016.
The first batches will be commercialized in specific niche markets and will also
allow the qualification of our renewable isobutene in all its applications.
Isobutene and its derivatives today represent a 15 million tonne market
globally."
François-Henri Sahakian, Global Bioenergies' Chief Financial Officer concludes:
"This 4.4 million euro loan has been secured from several of France's largest
banks on the basis of the convincing results obtained on our pilot plant of
Pomacle-Bazancourt. Accessing such a significant bank financing testifies of the
level of trust Global Bioenergies now inspires to its partners."
About GLOBAL BIOENERGIES
Global Bioenergies is one of the few companies worldwide, and the only one in
Europe, that is developing a process to convert renewable resources into
hydrocarbons through fermentation. The Company initially focused its efforts on
the production of isobutene, one of the most important petrochemical building
blocks that can be converted into fuels, plastics, organic glass and elastomers.
Global Bioenergies continues to improve the yield of its process and recently
announced success with first testing in its industrial pilot. The company also
replicated its achievement to propylene and butadiene two members of the gaseous
olefins family, key molecules at the heart of petrochemical industry. Global
Bioenergies is listed on Alternext, Euronext Paris (FR0011052257 - ALGBE).
Should you like to be kept informed, subscribe to our news feed on
www.global-bioenergies.com
Follow us on Twitter: (at)GlobalBioenergi
Contact
GLOBAL BIOENERGIES
François-Henri Sahakian
Chief Financial Officer
Tel : + 33 (0) 1 64 98 20 50
Email : invest(at)global-bioenergies.com
PRESS RELEASE:
http://hugin.info/166909/R/1907989/679826.pdf
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Source: GLOBAL BIOENERGIES via GlobeNewswire
[HUG#1907989]
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Datum: 31.03.2015 - 17:37 Uhr
Sprache: Deutsch
News-ID 382533
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