Iogen Corporation To Review Strategic Alternatives

< BACK TO COMPANY starstarstarstarstar   Business - Company Press Release
15th September 2010, 09:09am - Views: 829





Business Company Iogen Corporation 1 image

Business Company Iogen Corporation 2 image










MEDIA RELEASE PR41247


Iogen Corporation To Review Strategic Alternatives


OTTAWA, Sept. 14 /CNW Telbec-AsiaNet/ --


Iogen Corporation today announced that its Board of Directors has initiated a process to explore strategic

alternatives for enhancing shareholder value and funding the deployment of its world leading renewable energy

technology. The company has retained Goldman, Sachs & Co. as its exclusive financial advisor.


Iogen Corporation is a joint owner, with Royal Dutch Shell plc, of Iogen Energy, the industry leader in developing

commercial technology for making cellulosic ethanol from agricultural residue. Iogen Corporation also owns and

operates, through its wholly-owned Iogen Bio-Products subsidiary, a commercial enzyme business and

manufacturing facility serving customers globally.


"Iogen Corporation has developed advanced biofuel technology that is ready to be deployed and enjoys a valuable

set of commercial development rights for that technology. Fully exploited, these rights offer a tremendous business

opportunity," said Clive Mather, Chairman of Iogen Corporation. "At this time, the Board of Directors feels that it is

appropriate to examine all alternatives which will allow the company to realize the potential of this technology and

thereby maximize shareholder value."


Iogen Corporation (www.iogen.ca) is a privately held company located in Ottawa, Canada. In business since 1974,

it develops, manufactures and markets enzymes used to modify and improve the processing of natural fibers within

the textile, animal feed, pulp and paper, grain processing and brewing industries. Iogen Corporation also owns 50%

of Iogen Energy and, like Shell, holds significant independent rights to commercially exploit the Iogen Energy

cellulosic ethanol technology.


Iogen Energy, a 50-50 joint venture between Iogen Corporation and Shell, is a leading biotechnology firm

specializing in cellulosic ethanol, which it has been producing from wheat straw at its Ottawa demonstration plant

since 2004. Development of the Iogen Energy cellulosic demonstration plant as well as strategic research and

development in cellulosic ethanol technology was made possible in part with the assistance of the Technology

Partnerships Canada Program (now administered by Industry Canada's Industrial Technologies Office).


Iogen Bio-Products, a wholly-owned subsidiary of Iogen Corporation, develops, manufactures and markets

enzymes used to modify and improve the processing of natural fibers within the textile, animal feed, pulp and

paper, grain processing and brewing industries.


Royal Dutch Shell plc ("Shell") is incorporated in England and Wales, has its headquarters in The Hague and is

listed on the London, Amsterdam and New York stock exchanges. Shell companies have operations in more than

110 countries and territories, with businesses including: bio-fuels; oil and gas exploration; production and marketing

of liquefied natural gas and gas to liquids; and the marketing and shipping of oil products and chemicals.


SOURCE: Iogen Corporation


    CONTACT: Lisa Hanke, Senior Associate, Public Affairs and Communications, Iogen Corporation, 613-733-9830


To view this and other AsiaNet releases please visit http://www.asianetnews.net






news articles logo NEWS ARTICLES
Contact News Articles |Remove this article