Dyadic Closes $10 Million R&D and Stock Purchase Agreement with Abengoa Bioenergy in the Area of Cellulosic Ethanol Production
09 Noviembre 2006 - 7:00AM
Business Wire
Dyadic International, Inc. (AMEX:DIL), a biotechnology company,
announced today that it has closed the previously announced
three-year research and development (R&D) agreement and stock
purchase agreement with Abengoa Bioenergy R&D, Inc. (Abengoa),
an Abengoa Bioenergy Company. Under the terms of the stock purchase
agreement, Abengoa Bioenergy has purchased 2,136,752 shares of
Dyadic Common Stock at $4.68 per share, or a total of $10 million.
The securities offered in the private sale were not registered
under the Securities Act of 1933, as amended (the �Act�) or any
state securities laws, and may not be offered or sold in the United
States absent registration, or an applicable exemption from
registration, under the Act and applicable state securities laws.
For additional information regarding Dyadic�s stock purchase
agreement and R&D agreement with Abengoa, reference is made to
Dyadic�s Current Report on Form 8-K dated October 26, 2006, as
filed with the U.S. Securities and Exchange Commission on November
1, 2006. About Dyadic Dyadic International, Inc. is engaged in the
development, manufacture and sale of biological products using a
number of proprietary fungal strains to produce enzymes and other
biomaterials, principally focused on a system for protein
production based on the patented Chrysosporium lucknowense fungus,
known as C1. Dyadic is applying its technologies to produce enzymes
for use in converting various agricultural products (e.g. corn) and
waste products (e.g. switch grass, wheat straw, sugar cane bagasse,
etc.) into fermentable sugars, which can then be used in the
production of traditional and cellulosic ethanol as well as other
products currently derived from petroleum. Dyadic's C1 technology
also is being developed to facilitate the discovery, development
and large-scale production of human antibodies and other high-value
therapeutic proteins. Dyadic currently sells more than 45 liquid
and dry enzyme products to more than 200 industrial customers in
approximately 50 countries for the textile, pulp & paper and
animal feed industries. About Abengoa Bioenergy Abengoa Bioenergy
is considered to be the second largest ethanol producer in the
world with production facilities located in Europe and the USA.
Abengoa Bioenergy is one of the five business units of Abengoa,
S.A. (ABG:MC), a technology company that applies innovative
solutions for sustainable development in the infrastructures,
environment and energy sectors. Abengoa, S.A. is a listed company
on the Madrid Stock Exchange with 2005 revenues of approximately
two billion euros, and is present in more than seventy countries
where it operates with its five business units; Solar, Bioenergy,
Environmental Services, Information Technologies, and Industrial
Engineering and Construction. (www.abengoa.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 our actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. For a discussion of these risks and uncertainties,
please see our filings from time to time with the Securities and
Exchange Commission, which are available free of charge on the
SEC's web site at http://www.sec.gov, including our Annual Report
on Form 10-KSB for the year ended December 31, 2005, and our
subsequent filings with the SEC. Except as required by law, we
expressly disclaim any intent or obligation to update any
forward-looking statements. Dyadic International, Inc. (AMEX:DIL),
a biotechnology company, announced today that it has closed the
previously announced three-year research and development (R&D)
agreement and stock purchase agreement with Abengoa Bioenergy
R&D, Inc. (Abengoa), an Abengoa Bioenergy Company. Under the
terms of the stock purchase agreement, Abengoa Bioenergy has
purchased 2,136,752 shares of Dyadic Common Stock at $4.68 per
share, or a total of $10 million. The securities offered in the
private sale were not registered under the Securities Act of 1933,
as amended (the "Act") or any state securities laws, and may not be
offered or sold in the United States absent registration, or an
applicable exemption from registration, under the Act and
applicable state securities laws. For additional information
regarding Dyadic's stock purchase agreement and R&D agreement
with Abengoa, reference is made to Dyadic's Current Report on Form
8-K dated October 26, 2006, as filed with the U.S. Securities and
Exchange Commission on November 1, 2006. About Dyadic Dyadic
International, Inc. is engaged in the development, manufacture and
sale of biological products using a number of proprietary fungal
strains to produce enzymes and other biomaterials, principally
focused on a system for protein production based on the patented
Chrysosporium lucknowense fungus, known as C1. Dyadic is applying
its technologies to produce enzymes for use in converting various
agricultural products (e.g. corn) and waste products (e.g. switch
grass, wheat straw, sugar cane bagasse, etc.) into fermentable
sugars, which can then be used in the production of traditional and
cellulosic ethanol as well as other products currently derived from
petroleum. Dyadic's C1 technology also is being developed to
facilitate the discovery, development and large-scale production of
human antibodies and other high-value therapeutic proteins. Dyadic
currently sells more than 45 liquid and dry enzyme products to more
than 200 industrial customers in approximately 50 countries for the
textile, pulp & paper and animal feed industries. About Abengoa
Bioenergy Abengoa Bioenergy is considered to be the second largest
ethanol producer in the world with production facilities located in
Europe and the USA. Abengoa Bioenergy is one of the five business
units of Abengoa, S.A. (ABG:MC), a technology company that applies
innovative solutions for sustainable development in the
infrastructures, environment and energy sectors. Abengoa, S.A. is a
listed company on the Madrid Stock Exchange with 2005 revenues of
approximately two billion euros, and is present in more than
seventy countries where it operates with its five business units;
Solar, Bioenergy, Environmental Services, Information Technologies,
and Industrial Engineering and Construction. (www.abengoa.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 our actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. For a discussion of these risks and
uncertainties, please see our filings from time to time with the
Securities and Exchange Commission, which are available free of
charge on the SEC's web site at http://www.sec.gov, including our
Annual Report on Form 10-KSB for the year ended December 31, 2005,
and our subsequent filings with the SEC. Except as required by law,
we expressly disclaim any intent or obligation to update any
forward-looking statements.
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