Navigation Links
Verenium Announces EPA Authorization To Market Its Next-Generation Enzyme Breaker For Hydraulic Fracturing
Date:7/25/2012

SAN DIEGO, July 25, 2012 /PRNewswire/ -- Verenium Corporation (Nasdaq: VRNM), a leading industrial biotechnology company focused on the development and commercialization of high-performance enzymes, today announced that it has received regulatory authorization from the Environmental Protection Agency (EPA) to market its next-generation cellulase enzyme for non-food applications, including use as a biocatalyst to break down the guar-based gel used in hydraulic fracturing.  This highly thermo-stable enzyme was developed by Verenium scientists using proprietary DirectEvolution® technology, and is designed to function under higher temperatures and extreme pH conditions, such as those in gas shales and deeper oil and gas wells. 

"While our Pyrolase® cellulase product currently used for breaking guar during hydraulic fracturing is effective in fracturing jobs at temperatures under 180 degrees F, our work with the industry enabled us to define the characteristics of a more robust enzyme breaker.  Our next-generation product has been tested in the labs of several oilfield services companies demonstrating that it functions well in more extreme temperature ranges and higher pH conditions," said James Levine, President and Chief Executive Officer.

Verenium estimates the addressable market in the U.S. for guar breakers in hydraulic fracturing is $250 million. Verenium's next-generation enzyme breaker represents an advancement in performance properties that the Company believes can expand the share of this market addressable by enzymes well beyond the current ten percent. The Company expects to launch this next-generation product in the second half of 2012.

"With this authorization, we have the opportunity to expand our current offering to the oilfield services industry and provide a hyper-thermostable enzyme that provides several important economic, operational and environmental advantages over the traditional chemical breakers currently used, both during the fracturing process and over the remaining operational life of the well," added Levine.

Upcoming Data Presentation

Verenium has co-authored a scientific paper based on research conducted with its high-performance enzyme for breaking cross-linked fracturing fluids under extreme downhole conditions.  The findings, A Superior High-performance Enzyme for Breaking Borate Cross-linked Fracturing Fluids under Extreme Well Conditions, will be presented during the Fluids Optimization Technical Session in room 217A at the Society of Petroleum Engineers (SPE) Annual Technical Conference on Wednesday, October 10, 2012, between 8:30 and 11:55 am in San Antonio, Texas.  For more information visit the SPE website at www.spe.org/atce/2012/pages/schedule/technical_program/wed_0830.php.

About Verenium

Verenium, an industrial biotechnology company, is a global leader in developing high-performance enzymes.  Verenium's tailored enzymes are environmentally friendly, making products and processes greener and more cost-effective for industries, including the global food and fuel markets.  Read more at www.verenium.com.

Forward-Looking Statements

Statements in this press release that are not strictly historical are "forward-looking" and involve a high degree of risk and uncertainty.  These include, but are not limited to, statements related to Verenium's technology, products and product candidates, lines of business, operations, capabilities, commercialization activities, corporate partnerships, target markets, future financial performance, and near-term and longer-term growth and prospects.  Such statements are only predictions, and actual events or results may differ materially from those projected in such forward-looking statements.  Factors that could cause or contribute to the differences include, but are not limited to, risks associated with Verenium's strategic focus, technologies, products and product candidates, dependence on patents and proprietary rights,  protection and enforcement of its patents and proprietary rights, the commercial prospects of the industries in which Verenium operates and sells products, Verenium's dependence on manufacturing and/or license agreements, its ability to achieve milestones under existing and future collaboration agreements, the ability of Verenium and its partners to commercialize its technologies and products (including by obtaining any required regulatory approvals) using Verenium's technologies, the timing for launching any commercial products and projects, the ability of Verenium and its collaborators to market and sell any products that it or they commercialize, the development or availability of competitive products or technologies, the future ability of Verenium to enter into and/or maintain collaboration and joint venture agreements and licenses, and risks and other uncertainties more fully described in Verenium's filings with the Securities and Exchange Commission, including, but not limited to, Verenium's annual report on Form 10-K for the year ended December 31, 2011 and any updates contained in its subsequently filed quarterly reports on Form 10-Q.  These forward-looking statements speak only as of the date hereof, and Verenium expressly disclaims any intent or obligation to update these forward-looking statements.

Contacts:

Sarah Carmody
Manager, Corporate Communications
858-431-8581
sarah.carmody@verenium.com


'/>"/>
SOURCE Verenium Corporation
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Verenium Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2011
2. Verenium to Present at Baird Clean Technology Conference
3. First Product Candidate Moving Toward Commercialization as Result of Novus International and Verenium Collaboration
4. Verenium Corporation to Announce Fourth Quarter and Year-End 2011 Financial Results
5. Verenium Corporation To Announce First Quarter 2012 Financial Results
6. Verenium Corporation Named One Of The 2012 Best Places to Work in San Diego
7. Verenium Corporation And Alexandria Real Estate Equities, Inc. Celebrate The Grand Opening Of A New State-of-the-art Biotechnology Facility
8. Keryx Biopharmaceuticals, Inc. Announces Upcoming Poster Presentations of Zerenex™ (Ferric Citrate) at the Upcoming American Society of Nephrology Kidney Week 2011 Annual Meeting
9. VaxyGen Assay Services, LLC Announces Launch of Custom Bioassay Services and Operations
10. Sequenom Announces Participation at the Lazard Capital Markets 8th Annual Healthcare Conference
11. ACORN Research, LLC Announces Partnership with AdeptBio, LLC
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/8/2016)... 2016 Eurofins announces the appointment of Sean Murray ... Scientific Inc. (ESI). Mr. Murray will bring valuable ... entrepreneurial experience in leading international business teams. As the National Division ... to uphold Eurofins, status as the global leader in bio-analytical testing ... , , ...
(Date:12/8/2016)... 8, 2016 Oxford Gene Technology ... SureSeq™ NGS panel range with the launch of the SureSeq ... study of variants in familial hypercholesterolemia (FH). The panel delivers ... on a single small panel and allows customisation by ,mix ... all exons for LDLR , P C ...
(Date:12/8/2016)... ... December 08, 2016 , ... Microbial genomics leader, ... uBiome is one of just six company finalists in the Health & Medicine ... uBiome, companies nominated as finalists in this year’s awards include Google, SpaceX, Oculus, ...
(Date:12/8/2016)... Dec. 8, 2016  HedgePath Pharmaceuticals, Inc. (OTCQX: ... develops and plans to commercialize innovative therapeutics for ... common stock were approved for trading on the ... on the OTCQX, effective today, under the ticker ... OTCQX market, companies must meet high financial standards, ...
Breaking Biology Technology:
(Date:11/30/2016)...  higi SH llc (higi) announced today the ... brands, industry thought-leaders and celebrity influencers looking to ... taking steps to live healthier, more active lives. ... has built the largest self-screening health station network ... who have conducted over 185 million biometric screenings.  ...
(Date:11/29/2016)... 29, 2016 Nearly one billion matches per second ... ... DERMALOG is Germany's ... efficient Identity Management. (PRNewsFoto/DERMALOG Identification Systems) ... DERMALOG is Germany's largest Multi-Biometric supplier: The company's Fingerprint Identification ...
(Date:11/22/2016)... PUNE, India , November 22, 2016 According ... (Single-Factor: (Fingerprint, IRIS, Palm Print, Face, Vein, Signature, Voice), Multi-Factor), Component (Hardware ... to 2022", published by MarketsandMarkets, the market is expected to grow from ... at a CAGR of 16.79% between 2016 and 2022. ... ...
Breaking Biology News(10 mins):