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

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and Texas -- markets initially targeted for the first series of plants.

These activities included identifying and securing control of unique

sites, arranging for the planting of "test" plantations of dedicated

energy crops and initiating the negotiation of long-term feedstock

contracts.

Specialty Enzymes Business Unit

The Specialty Enzymes Business Unit made solid progress during the third quarter, accelerating its transition into a business focused on the development and commercialization of its own products. Importantly, for example, the Company began selling its Fuelzyme-LF alpha-amylase enzyme to the grain ethanol industry through its own direct sales force earlier this year and has already achieved more than $1 million in sales through the third quarter.

In order to support the development of a growth-oriented commercial business, several important new initiatives have also been implemented that include a reorganization of the Company's sales and marketing team around dedicated product managers responsible for driving sustainable and profitable sales growth of our most promising enzyme products. Additionally, the Company continues to undergo a portfolio review process to focus resources on those products with the greatest commercial opportunity.

"We remain committed to leveraging the scientific depth and breadth inherent in our enzyme business to build a growth-oriented commercial business that is strategically aligned with the long-term goals of the Company," added Mr. Riva. "Through our ongoing portfolio review process, we expect to identify the most appropriate opportunities for future development as we consider the continued growth and success of our business."

Additional Specialty Enzymes Business Unit highlights for the third quarter include:

-- In September, the Company announced that it had achieved a key

technical milestone in its collaboration with Cargill on a new
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SOURCE Verenium Corporation
Copyright©2007 PR Newswire.
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