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Verenium Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2007

food-related product designed to promote healthy lifestyle choices for

global consumers. Under the agreement between Verenium and Cargill,

Verenium is applying its enzyme discovery and optimization technologies

to develop several new custom enzymes for Cargill which are being

utilized as part of Cargill's innovative, multi-step enzymatic process

to develop a new food-related product.

Corporate Strategy

The Company continues to focus on several key initiatives and opportunities critical to its successful future development in the alternative energy marketplace:

-- Verenium believes strategic partnerships and alliances will be critical

ingredients to catalyze growth and success in this multi-billion dollar

global market. As such, the Company maintains active and on-going

dialogues with a broad cross-section of potential strategic partners

that could serve to accelerate its commercial development plans. The

Company's goal is to identify one or a series of partners with

complementary business offering(s), financial resources, and a shared

vision for cellulosic ethanol development to accelerate its commercial

plans, and expects to advance these discussions over the coming year.

-- From a public policy standpoint, Verenium continues to be committed to

maximizing opportunities at both the federal and state levels in the

form of grants and other funding. Further, the Company is also closely

following both energy and agriculture legislation currently being

considered by Congress, which includes several important measures to

help advance the development of cellulosic ethanol, including:

-- Higher funding for research and development, demonstration

facilities, and specifically, additional funding for loan

guarantees (from the Department of

SOURCE Verenium Corporation
Copyright©2007 PR Newswire.
All rights reserved

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