*In the previously published version today, the amount granted was stated as 20 million EURO - correction
Taurus Energy and partners in tough competition awarded EU-financing for 2nd Generation Ethanol Project
The EU-Commission has awarded 20 million EURO in financing for the development of a strategically important 2nd generation ethanol demo plant in France. The award is shared with French production companies CIMV (group leader) and ROLKEM, US enzyme maker DYADIC and Swedish TAURUS ENERGY as the yeast provider with its C5 fermentation technology. The EU commission has granted Taurus 200 000 EURO*.The project is scheduled to run for 3 years at an estimated cost of 35 million EURO.
"We are pleased and honored to have been selected in tough competition for this important project. It will give us an opportunity to showcase our technology to the whole world," says Lars Welin"
A new patented technology will be utilized in the planned demo plant. It can be described as an environmentally clean method which will separate lignin, cellulose and hemicellulose without causing damage to any of the ingredients and with a resulting higher yield of ethanol compared to known methods existing today.
It was in the fall 2014 that the consortium at the leadership of CIMV (Compagnie Industrielle de Matière Végétale) submitted an application to EU’s H 2020-program for assistance in the construction and running of a large scale demo plant to produce ethanol from biomass.
The project was given the designation 2G BIOPIC and with CIMV’s patented method the lignin will first be separated before the subsequent enzyme and fermentation steps will convert the hemicellulose and cellulose to ethanol. The lignin that is separated out in the process will be used by CIMV to produce various special chemicals.
“Today there are already several customers interested in the process which could open the door to new commercial possibilities for Taurus Energy and future licensing of our technology,” says Lars Welin.
The other two companies in the consortium are DYADIC International Inc and ROLKEM.
DYADIC is a global biotech company, headquartered in Florida and with its main research center located in the Netherlands. DYADIC is focusing on discovering, developing and selling enzymes and other proteins for the biotech industry. ROLKEM is a French company which develops and produce phenolic resins.
For more information, please contact:
Lars Welin, CEO Taurus Energy AB, +46 46-286 86 10
About Taurus Energy AB
Taurus Energy AB is a research and development company, which aims to commercialize its extensive research and development program in the field of ethanol production. Since 2006, the company’s mission has been to license energy producers to use the methods developed by the company on a global market. Taurus holds over 10 world-leading patents which have been developed with the help of around 20 internationally recognized scientists. The company is based in the Ideon Science Park in Lund, Sweden. Taurus is listed on the Aktietorget equities market. For more information, please visit www.taurusenergy.eu