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Verenium Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2007
Date:11/6/2007

nd will also be used as a learning facility to train future operators of commercial plants for both Verenium and its technology licensees. The Company is on track to complete mechanical construction of the demonstration plant by the end of the first quarter of 2008.

Once mechanically complete, the demonstration plant will go through a comprehensive start-up phase to test the functional capabilities of the facility as well as evaluate the Verenium process at scale, including the ability to produce ethanol within predefined economic criteria. The first phase will be mechanically oriented, and will include: hydrostatic testing, testing all electrical systems, integrating enzymes and biology, and moving feedstock through the system. Next, the Company will begin a commissioning phase where process design will be evaluated at scale, ethanol will be produced, and variable-cost economics will be verified. Throughout this phase, the Company will continue to make process modifications and improvements. The final phase will be focused on optimizing the plant for continuous operation in the most cost-efficient manner. The Company expects that this entire start-up process will last between nine and twelve months. Over the course of this process, the demonstration plant is expected to produce important operating metrics that the Company expects to help drive the initiation of its commercial development plans.

Additional Biofuels Business Unit highlights for the third quarter include:

-- Critical R&D work at the pilot plant continues to further the Company's

understanding and know-how with regard to pre-treatment and production

economics. The Company expects that these key learnings will provide

for enhanced design optimization once the demonstration plant is

complete.

-- The Company's business development team significantly accelerated its

commercialization activities during the quarter in Louisiana, Florida'/>"/>

SOURCE Verenium Corporation
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