JUPITER, Fla., Oct. 1, 2014 /PRNewswire/ -- Dyadic International, Inc. ("Dyadic") (OTCQX: DYAI), a global biotechnology company with patented and proprietary technology used to develop and produce enzymes and other proteins for the bioenergy, bio-based chemicals, biopharmaceuticals, and industrial enzymes industries, today announced the receipt of a $500,000 licensing payment from Abengoa Bioenergy for commercial scale production of Abengoa's proprietary cellulase enzymes, used for converting biomass into ethanol, developed under Abengoa's license agreement with Dyadic.
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"We are very excited that our pioneering C1 technology platform is playing a pivotal role in the commercialization of cellulosic ethanol and the long-awaited realization and development of this important industry," said Mark Emalfarb, CEO of Dyadic International Inc.
Emalfarb added, "As part of their license agreement, Abengoa has developed their own proprietary cellulase enzymes using the C1 technology platform, and has now produced these enzymes at industrial scale. Abengoa is truly an industry leader, having developed a fully integrated process for creating cellulosic sugars from biomass. This is a landmark achievement for Dyadic in that Abengoa is the first licensee of the company's proven C1 technology to produce enzymes for a commercial scale, second-generation biofuel plant." Under the terms of Dyadic's C1 licensing agreement with Abengoa, Dyadic will receive future royalty payments based on Abengoa's production of cellulosic ethanol at the Hugoton facility and future plants where Abengoa uses C1-derived enzymes in the processing of cellulosic sugars for the production of biofuels, biochemicals and other bio-based products.
About Dyadic
Dyadic International, Inc. is a global biotechnology company that uses its patented and proprietary technologies to conduct research, development and commercial activities for the discovery, development, manufacture and sale of enzymes and other proteins for the bioenergy, bio-based chemical, biopharmaceutical and industrial enzyme industries. Dyadic utilizes an integrated technology platform based on its patented and proprietary C1 microorganism, which enables the development and large scale manufacture of low cost enzymes and other proteins for diverse market opportunities. The C1 platform technology can also be used to screen for the discovery of novel genes. In addition to the sale of proprietary enzyme products, Dyadic actively pursues licensing arrangements and other commercial opportunities to leverage the value of these technologies by providing its partners and collaborators with the benefits of manufacturing and/or utilizing the enzymes and other proteins which these technologies help produce. Please visit Dyadic's website at www.dyadic.com. Dyadic trades on the OTCQX tier of the OTC marketplace. Investors can find real-time quotes, market information and financial reports for Dyadic on the OTC marketplace website at www.otcmarkets.com/stock/DYAI/quote.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release are "forward-looking statements" within the meaning of the federal securities laws. These forward-looking statements involve risks, uncertainties and other factors 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. Investors are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. Any forward-looking statements speak only as of the date of this press release and, except as required by law, Dyadic expressly disclaims any intent or obligation to update or revise any forward-looking statements to reflect actual results, any changes in expectations or any change in events. Factors that could cause results to differ materially include, but are not limited to: (1) whether our new and existing products will achieve commercial success; (2) whether our collaborations will result in future products or enhanced offers; (3) competitive pressures and reliance on key customers and collaborators; (4) Dyadic's research and development efforts; and (5) other factors discussed in Dyadic's publicly available filings, including the risk factors included in Dyadic's Annual Report filed with the OTC Markets Group on March 31, 2014.
SOURCE Dyadic International, Inc.