Dyadic receives funding for new advanced biofuels program

Biotechnology company Dyadic International has announced details regarding 2G Biopic, a new advanced biofuels project funded by the European Commission's Horizon 2020 programme.

In the 2G Biopic project, Dyadic's subsidiary Dyadic Netherlands will work in collaboration with Compagnie Industrielle de Matière Végétale (CIMV) and five other industry partners to develop, construct and operate a large demonstration-scale facility that produces ethanol from biomass.

Dyadic's chief operating officer Danai Brooks says: 'We are pleased to continue working closely with CIMV, and believe that Dyadic's C1 enzymes will play a critical role in the 2G Biopic project success. The aim of 2G Biopic is to demonstrate the performance, reliability and sustainability of producing bioethanol from agriculture waste and wood. The demonstration plant built in the 2G Biopic program will process 1 tonne of biomass per hour, or about 50 times the size of the CIMV pilot plant upon which the project is based.'

Emmanuel Dutournier, CIMV's chief financial officer, member of the board of directors and 2G Biopic program coordinator, adds: '2G Biopic is the second EU funded program where we are collaborating with Dyadic Netherlands. The first program Biomimetic, which deals with depolymerisation of our Biolignin, opens up many opportunities and we look forward to furthering our work together with the Dyadic team. We believe that the Dyadic and CIMV technologies are highly complementary, as Dyadic's C1 enzymes work particularly well with the purer plant material produced from CIMV's biomass pre-treatment technology.'

The grant provides that Dyadic Netherlands will be paid a total of approximately €1.0 million over the three year term of the project. The amount includes an upfront payment of €439,819 which the company has already received.

 

SOURCE: Dyadic