Dyadic International engages The Abraham Group06/21/10
Jupiter, Fla., June 21 /PR Newswire-First Call/ -- Dyadic International, Inc. (Pink Sheets: DYAI), a global biotechnology company whose cutting-edge C1 platform technology addresses the needs of the multi-billion dollar biofuels market by producing enzymes at industrial scale which efficiently convert biomass into ethanol and other forms of alternative energy, announced today that it has engaged the influential consulting firm, The Abraham Group, to provide strategic advice and transactional assistance to Dyadic, as its exclusive biofuels client, as it actively pursues licensing opportunities and other strategic collaborations throughout the world. The Abraham Group is led by former U.S. Energy Secretary Spencer Abraham, who will also serve as a senior advisor to Dyadic.
Dyadic’s Executive Director of Strategic Alliances, Anne Whitehead, stated, “We are very pleased that Secretary Abraham and his firm have selected Dyadic as its exclusive biofuels client. The Abraham Group will help Dyadic build upon its previous licensing successes and enhance its biofuels strategy by leading an international initiative to further communicate the advantages of Dyadic’s C1 platform technology and its R&D capabilities to major international energy groups that are committed to the efficient and rapid commercialization of cellulosic ethanol and other forms of sustainable energy.”
Secretary Abraham stated, "The future of United States energy policy will be based on our country's ability to develop and implement many different types of technologies to meet our growing energy needs. We are excited to work with Dyadic whose technology has already been licensed and shown to be a key component in the process of developing and commercializing non-food biofuels and other applications worldwide.”
Dyadic’s President and CEO, Mark Emalfarb, added, “We are excited to have a firm of the caliber of The Abraham Group represent Dyadic. Secretary Abraham’s commitment to Dyadic is a clear sign of the progress and innovations we are achieving in the area of bioenergy and lends further credibility to our company and its technologies. We expect The Abraham Group’s expertise and relationships in the global energy sector will help accelerate the further development and monetization of our technologies through new licensees and other collaborations.”
Dyadic believes that its proprietary and patented C1 platform technology can be used as a cost-effective method to develop and produce alternatives to oil and petroleum-based products for a variety of multi-billion dollar markets. The C1 platform technology is based on a genetically sequenced fungal microorganism that has been genomically annotated by Scripps Florida, a division of The Scripps Research Institute. As a result of more than a decade of continued research and development, the C1 platform can be readily programmed to develop and produce novel enzymes on a commercial scale at low cost under broad operating conditions. These unique enzymes provide increased flexibility in the processing of multiple forms of biomass by biorefineries into fermentable sugars which, in turn, can be converted into biofuels such as cellulosic ethanol and butanol as well as chemicals, polymers and plastics.
Dyadic has previously licensed its C1 platform technology in the area of biofuels on a non-exclusive basis to Spanish biofuels and energy producer, Abengoa Bioenergy, as well as to Codexis, a biofuels partner of Royal Dutch Shell. Dyadic and these licensees are continuing to improve the C1 platform technology to make manufacturing processes more efficient in producing greater quantities of biofuels at lower costs.
About The Abraham Group
The Abraham Group is a Washington, D.C. based international strategic consulting firm that specializes in assisting clients seeking opportunities in the international energy sector. The firm’s Chairman & CEO, Spencer Abraham, served as U.S. Secretary of Energy from 2001 to 2005 and as a U.S. Senator from 1995 to 2001. The firm’s partners include Joseph McMonigle, who was former Chief of Staff at the U.S. Department of Energy and Vice Chairman of the International Energy Agency Board of Governors, and Majida Mourad, who served as Senior Advisor to the Secretary as a lead Department representative on international energy matters in the Middle East, Australia, and Russia as well as various European and Asian countries. Please visit The Abraham Group’s website at www.abrahamgroupllc.com.
Dyadic is a global biotechnology company that uses its patented and proprietary technologies for the discovery, development, manufacture and sale of enzyme products and solutions to address the needs of the bioenergy, biopharmaceutical and industrial enzyme markets. Please visit Dyadic’s website at www.dyadic.com.
Cautionary Statement for Forward-Looking Statements
Certain statements contained in this press release are forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause Dyadic’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Except as required by law, Dyadic expressly disclaims any intent or obligation to update any forward-looking statements.
Dyadic International, Inc.
Adam J. Morgan, Esq.
Vice President General Counsel & Business Development
The Abraham Group, LLC
Joseph P. McMonigle
President and Chief Operating Officer