Nobody commented on this - issued yesterday:
DOE to Award Energy BioSystems Second Year of Funding
for Gasoline Biocatalytic Desulfurization Process and U.S.
Patent Office Issues Separation Process Patent to Energy
BioSystems
PR Newswire - July 27, 1998 10:59
THE WOODLANDS, Texas, July 27 /PRNewswire/ -- Energy BioSystems Corporation (Nasdaq:
ENBC) received confirmation from the Department of Energy (DOE) that the company will receive a
second year of funding for a planned $2.4 million multi-year grant (79% of total project cost) dedicated to
the development of a biocatalytic desulfurization process for gasoline. The decision to award the
additional funding was based on a positive review of the company's first year progress by the DOE's
industry review panel, the Coordinating Research Council. Under the program, the company was
awarded $688,000 for year one. The amount to be awarded in year two is $915,000.
The U.S. Patent and Trademark Office has issued a new patent to Energy BioSystems. U.S. Patent
Number 5,772,901 for "Oil/Water/Biocatalyst Three Phase Separation Process" was granted on June
30th, 1998. This recent patent involves a method and apparatus for separating a water/organic/solid
emulsion. The solid can be a biocatalyst and the organic phase is a liquid comprising carbon, such as
petroleum. The described method is an integral part of biorefining processes that is essential to maximize
biocatalyst utilization and to produce high quality products.
With the issuance of this patent, Energy BioSystems has significantly strengthened its proprietary position
in biorefining. Energy BioSystems currently has rights to 24 U.S. patents, 29 foreign patents, with 13
patent applications pending in the U.S. Patent Office and 80 foreign patent applications pending
worldwide to cover its biocatalytic process technologies and biocatalyst genes.
Energy BioSystems Corporation, of Houston, is a biotechnology company developing and
commercializing biocatalytic processes for the petroleum refining and production industries. The company
has focused on developing biocatalytic desulfurization, a proprietary process involving the use of enzymes
to remove sulfur from petroleum, including gasoline, diesel, and heavy and crude oils, while operating at
mild temperature and pressure. This process is expected to help refiners worldwide meet environmental
regulations in a more cost-effective manner and has the potential to greatly improve the value of
high-sulfur crude oil reserves. Additional information about Energy BioSystems is available at the
company's web site: www.energybiosystems.com.
This document contains forward-looking statements that are subject to certain risks, uncertainties and
assumptions. Should one or more of such risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those indicated in such
forward-looking statements. For a discussion of such risks and assumptions, see "Risk Factors" included
in the Company's annual report or Form 10-K for the year ended December 31, 1997.
SOURCE Energy BioSystems Corporation
/CONTACT: Investor Relations Contact: Paul G. Brown III, Vice President,
Finance & Administration of Energy BioSystems Corporation, 281-364-6140/
/Web site: energybiosystems.com |
