Additional 4.4 million euros financing secured
EVRY, France, March 31, 2015 -- Global Bioenergies
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,
Societe Generale, 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
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."
Francois-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
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,
(FR0011052257 - ALGBE).