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

sion of enzymes-proteins that act as the catalysts of biochemical reactions.

Verenium operates one of the nation's first cellulosic ethanol pilot plants, an R&D facility, in Jennings, Louisiana and expects to achieve mechanical completion of a 1.4 million gallon-per-year, demonstration-scale facility to produce cellulosic ethanol by the end of the first quarter of 2008. In addition, the Company's process technology has been licensed by Tokyo-based Marubeni Corp. and Tsukishima Kikai Co., Ltd. and has been incorporated into BioEthanol Japan's 1.4 million liter-per-year cellulosic ethanol plant in Osaka, Japan -- the world's first commercial-scale plant to produce cellulosic ethanol from wood construction waste. For more information on Verenium, visit http://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 statements related to the Company's market opportunities and the Company's abilities to take advantage of those opportunities, technological progress in both its Biofuels and Specialty Enzymes Business Unit and the expected benefits from that progress, future gross profits and product gross margins, fair value estimates for the allocation of the Celunol merger consideration, timing for mechanical completion of the Jennings demonstration plant, timing for completing, and expected benefits to be derived from, the start-up phase of the Jennings demonstration plant, reorganization of its Specialty Enzymes Business Unit sales and marketing team and its product portfolio review in its Specialty Enzymes Business Unit, and the expected benefits from both activities, and corporate strategy, including as it relates to strategic partnering activities, funding activities, and public policy activities all of which are prospective. Such statements are only predicti
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SOURCE Verenium Corporation
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