Abengoa Bioenergy will invest $10 million in a new issue of Dyadic stock to support their research and development collaboration, which will focus on efficiencies in bioethanol production. ...
... "Dyadic will use the proceeds from this private sale to fund its R&D obligations under the R&D agreement, which has as its objective the development of a cost-
effective enzyme production system for commercial application in Abengoa Bioenergy’s bioethanol (cellulosic ethanol) production process. The R&D agreement, which does not become effective until the private sale closes, calls upon Dyadic to use its proprietary technologies to develop one or more enzyme mixture manufacturing systems customized to ABRD’s proprietary biomass substrates. The R&D agreement contemplates that Dyadic will perform both foundational research of general application to the cellulosic ethanol field and specific applications research for the achievement of the goals of ABRD’s program. " ...
Via Dyadic:
Dyadic Enters Into Research and Development Agreement with Abengoa Bioenergy in the Area of Cellulosic Ethanol Production ...