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:3/27/2017)... ... March 27, 2017 , ... IsoPlexis Corporation (IsoPlexis), ... autoimmune disease and more through a single-cell precision engineering platform, today announced it ... developed in the laboratory of Dr. James Heath at the California Institute ...
(Date:3/27/2017)... Md. , March 27, 2017  The ... billion for 2016, according to a new report ... medical lab testing is performed to evaluate disease ... individual therapy, among other reasons.  The healthcare market ... Market , provides an overview of the ...
(Date:3/27/2017)... ... March 27, 2017 , ... A research team led ... grafts in JoVE’s Video Journal, the world’s first peer-reviewed scientific video journal. The ... treating coronary artery disease (CAD). Lam is an assistant professor at the Department ...
(Date:3/24/2017)... , March 24, 2017 MiMedx Group, Inc. ... utilizing human placental tissue allografts and patent-protected processes to ... sectors of healthcare, announced today  that it will present ... York , NY.  Parker H. "Pete" Petit, Chairman ... Officer, Christopher M. Cashman , EVP and Chief ...
Breaking Biology Technology:
(Date:3/23/2017)... 23, 2017 Research and Markets has announced ... & Trends - Industry Forecast to 2025" report to their ... The ... CAGR of around 8.8% over the next decade to reach approximately ... the market estimates and forecasts for all the given segments on ...
(Date:3/22/2017)... 2017 Optimove , provider of ... such as 1-800-Flowers and AdoreMe, today announced two ... Replenishment. Using Optimove,s machine learning algorithms, these features ... replenishment recommendations to their customers based not just ... customer intent drawn from a complex web of ...
(Date:3/20/2017)... At this year,s CeBIT Chancellor Dr. Angela Merkel ... came to the DERMALOG stand together with the Japanese Prime Minster Shinzo ... At the largest German biometrics company the two government leaders could see ... as well as DERMALOG´s multi-biometrics system.   Continue ... ...
Breaking Biology News(10 mins):