Green Car Congress  
Go to GCC Discussions forum About GCC Contact  RSS Subscribe Twitter headlines

« DOE, ArcelorMittal partnership boosts efficiency of major steel manufacturing plant; 504 boiler project captures blast furnace gas flare | Main | DuPont Industrial Biosciences acquires Verdezyne’s xylose isomerase tech 5-carbon sugars »

Print this post

Proterro secures $3.5M in new funding to advance its noncellulosic sucrose for biofuels and biobased chemicals; progress on patent on sucrose-producing cyanobacteria

18 December 2012

Proterro organism
Proterro engineered cyanobacteria for continuous high-yield production of sucrose, which can then be used in the production of biofuels and biochemicals. Source: Proterro. Click to enlarge.

Proterro, Inc.—the only company making sugar instead of extracting it from crops—has closed on a $3.5-million financing round led by current investor Braemar Energy Ventures. Proterro has engineered cyanobacteria (from the group consisting of Synechococcus and Synechocystis) that naturally produce only sucrose to secrete the sucrose in a continuous, high-yield process. The sucrose can then be used in the production of biofuels and biochemicals. (Earlier post.)

In addition, the company announced it has received a notice of allowance from the United States Patent and Trademark Office on a cornerstone composition of matter patent (US Patent Application No. 12/348,887) protecting the company’s sucrose-producing cyanobacteria and their new genetic code.

Proterro cost comparison
Proterro projects a significant difference in the cost per pound of sucrose compared to production from sugarcane. Source: Proterro. Click to enlarge.

Proterro combines its core microorganism technology with a patent-pending, high-density, modular, solid-phase photobioreactor for scalable production non-crop-based, noncellulosic, sucrose that avoids the pricing volatility associated with corn and other feedstock markets.

The company projects it can produce its sucrose at a cost of less than $.05/lb.—far less than sugarcane, corn, other energy crops, or cellulosic sugar approaches.

In terms of unit economics, Proterro projects that at commercial scale-up, a plant operator could deliver an EBITDA of $1.24 per gallon of ethanol using Proterro sucrose, compared to an EBITDA of $0.33 per gallon for a commercial-scale cellulosic ethanol plant.

Proterro’s leadership team includes advisors with extensive experience from BP, Cargill, Gevo and Solazyme.

Cultivian Ventures and Middleland Capital joined as new investors in this round, with other existing investors, Battelle Ventures and its affiliate, Innovation Valley Partners, also participating in the round.

Resources

December 18, 2012 in Biorefinery, Biotech, Fuels, Synthetic Biology | Permalink | Comments (2) | TrackBack (0)

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c4fbe53ef017c34b9e6d1970b

Listed below are links to weblogs that reference Proterro secures $3.5M in new funding to advance its noncellulosic sucrose for biofuels and biobased chemicals; progress on patent on sucrose-producing cyanobacteria:

Comments

There must be an underlying reason why these people are using EBITDA, a non-GAAP method, to demonstrate the value of their proposed converter.

EBITDA = (Earnings, Before, Interest, Taxes, Depreciation and Amortization.

GAAP = Generally Accepted Accounting Principles used worldwide.

Readers beware?

"EBITDA of $1.24 per gallon of ethanol using Proterro sucrose, compared to an EBITDA of $0.33 per gallon for a commercial-scale cellulosic ethanol plant." says Proterro sucrose costs ~four times more(typo?).

"matter patent .. genetic code." Patenting life, like 'corporations are people' must be abolished, as slavery has been.

A company may have it's specific genetic tampering/methods protected for a very short time, but a party arrogantly pretending to legally own all future generations of life and nature forever can't be tolerated.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Green Car Congress © 2014 BioAge Group, LLC. All Rights Reserved. | Home | BioAge Group