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Gold/Mining/Energy : Energy Biosystem Corp NASDAQ-ENBC -- Ignore unavailable to you. Want to Upgrade?

To: Sector Investor who wrote (182)	10/25/1998 8:46:00 AM
From: Sector Investor	Read Replies (1) \| Respond to of 336

Energy BioSystems Moving to Develop Chemical Production Opportunities PR Newswire - October 20, 1998 08:18 THE WOODLANDS, Texas, Oct. 20 /PRNewswire/ -- Energy BioSystems (Nasdaq: ENBC) has been authorized by its board of directors to develop business alliances for a product of its desulfurization process which has the potential of becoming a new industrial chemical. This substance, hydroxy phenyl benzene sulfinate (HPBS), results from enhanced biocatalytic action that removes sulfur in the refining of petroleum products. Energy BioSystems is targeting refiners worldwide to utilize EBC's proprietary technology to reduce the sulfur content of fuels. Studies over the last several months indicate that HPBS will be a lower- cost and potentially biodegradable building-block in the manufacture of detergents. "HPBS is well-suited for preparation of surfactants," said Dr. Elaine Lange, manager products research. "Surfactants with favorable characteristics for detergents, such as low critical micelle concentrations and good foam properties, can be prepared by simple derivatization of this unusual product," she explained. The worldwide market for similar ingredients, currently being used, is estimated to be over $2 billion annually. In other areas, HPBS is also expected to provide advantages as an ingredient in resins and adhesives. EBC is actively exploring these applications. "This is a pleasant development that could greatly expand our technical and commercial opportunities," said William E. Nasser, the company's chief executive. "Originally, we viewed the sulfur compounds resulting from our biocatalytic process as simply waste," explains Mr. Nasser, "then our scientists and engineers found that the novel enzymes they are creating have heretofore unknown properties. On one hand we reduce the cost of our desulfurization process by selling the product, on the other hand we have the potential of a new product that can be derived from any number of refinery streams. " Energy BioSystems has been in discussions with target companies, under confidentiality agreements, and is about to begin transfer of materials under contract. Energy BioSystems Corporation is a United States based leading edge biotechnology company developing biocatalytic processes for commercial petroleum refining and industrial production. The company has developed special knowledge in working with Rhodococcus and related bacterial genera and applied this knowledge to biocatalysis. Expertise in oxygenase biochemistry, particularly related to complex cellular pathways; and expertise in multi- phase systems add to our capabilities. The company's principle focus has been on developing biocatalytic desulfurization, a proprietary process using enzymes to remove sulfur from petroleum, including fuels, while operating at mild temperature and pressure. This process is expected to help refiners and vehicle manufacturers worldwide meet increasingly stringent environmental regulations in a more cost effective manner. 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: Paul G. Brown III, Chief Financial Officer of Energy BioSystems Corporation, 281-364-6140/ Web site: energybiosystems.com