Verenium Announces Regulatory Approval for Purifine(R) PLC in China

CAMBRIDGE, Mass., Oct 20, 2010 /PRNewswire via COMTEX/ — Verenium Corporation (VRNM), a pioneer in the development and commercialization of high-performance enzyme solutions, today announced that Purifine(R) PLC, the Company’s novel enzyme specifically developed for the edible oil industry, has received all necessary Chinese government authorizations for sale as a processing aid in the edible oil industry. With this regulatory approval, Verenium now has the ability to sell Purifine(R) PLC in all the major oilseed processing areas of the world, which include Argentina, Brazil, the United States and China.
“We are very pleased that Purifine(R) PLC has met China’s strict regulatory requirements for sale in that country’s large and rapidly growing edible oils market,” said Janet Roemer, Verenium’s President and Chief Operating Officer. “Purifine(R) PLC continues to gain traction with current and potential customers, and now with this important approval, we can look to further expand the market reach of our innovative oilseed degumming process within the estimated $100 billion global edible oil market.”

China’s consumption of edible oils is growing at a high rate due to a large population and an ongoing shift to better quality food products. As a result, existing crushing capacity is being more fully utilized and additional plants are being built. Through regulation, China’s government is driving the industry to adopt best efficiency practices to enhance oil yields. Verenium’s Purifine(R) PLC enzymatic degumming process is well suited to help China meet this growing demand in an efficient and environmentally safe manner.