(C) Global Bioenergies 2017 Site Pomacle BazancourtGlobal Bioenergies:
Last payment of €797,000 by French State for BIOMA+

January 2017. The French industrial biotechnology developer announces that it received a last payment of €797k by the French State for its BIOMA+ project. The payment corresponds for one third to a grant and for the other two thirds to a repayable advance. This allows the group to show a solid cash position at 31 December 2016 of nearly €7.4 million (unaudited). François-Henri Reynaud, Directeur Administratif et Financier, said in the press statement that “French and German public fundings (totalling €6.2 million to be received in 2017), as well as equity financing from the UAE-based fund Bracknor (firm commitment for €7.5 million in 2017), gives us a complete visibility over 2017.”

The BIOMA+ project was financed from 2013 as part of the Investissements d’Avenir (CGI) Program and monitored by Agence de l'Environnement et de la Maîtrise de l'Énergie(ADEME). It brought together Global Bioenergies, Arkema and Centre national de la recherche scientifique (CNRS). The purpose of the project was the scale up of the renewable isobutene production process to industrial pilot scale. The project also sought to convert this bio-sourced isobutene into methacrylic acid, a compound widely used in paints

A new financing of €9 million over four years was granted in June 2016 by the French State, again through the CGI Program and the ADEME, to a consortium including Global Bioenergies, L’Oréal, Cristal Union and IBN-One. This time, the objective is to prepare the installation in France of a first commercial plant for the production of renewable isobutene.

Source: Global Bioenergies 

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