February 16, 2010 12:00 ET

OPXBIO Wins Renewable Energy Excellence Award

Colorado Governor Recognizes Technology for Bio-Based Products

DENVER, CO and BOULDER, CO--(Marketwire - February 16, 2010) -  OPX Biotechnologies Inc. (OPXBIO), a renewable biochemical and biofuel company, has won the 2009 State of Colorado "Governor's Excellence in Renewable Energy Award" in the small business category. Colorado Governor Bill Ritter presented the award to OPXBIO President and CEO Charles R. (Chas) Eggert during a ceremony held at the state capitol today.

OPXBIO was recognized for its advanced bioengineering technology to convert renewable raw materials into bio-based chemicals and fuels. The company's proprietary EDGE™ (Efficiency Directed Genome Engineering) technology platform enables rapid development of economical and sustainable bioprocesses for making products from a variety of biomass and solid waste materials. Bioproducts made using OPXBIO technology will reduce greenhouse gas emissions and petroleum consumption compared to current conventional approaches. OPXBIO's first commercial product is bioacrylic for use in paint, adhesives, diapers, and detergents. The company is also developing a new biodiesel production process.

"OPXBIO is honored to be recognized by Governor Ritter with the 2009 Excellence in Renewable Energy Award," said Eggert. "Governor Ritter has provided visible leadership for the development of the new energy economy in Colorado. OPXBIO is a good example of the potential for cleantech investment to drive economic development and job growth in our state."

OPXBIO has also been selected to showcase its technology at the inaugural U.S Department of Energy ARPA-E Energy Innovation Summit in Washington, DC on March 1 and 2.

OPXBIO is a Colorado-based company using biotechnology to convert renewable raw materials into biochemicals and biofuels. Applying its EDGE™ (Efficiency Directed Genome Engineering) technology, OPXBIO will manufacture bio-based products that are more economical and sustainable than petroleum-based alternatives. OPXBIO has already demonstrated laboratory-scale production of several different biochemicals and biofuels using renewable biomass as well as carbon dioxide and hydrogen feedstock. The company currently is producing bioacrylic at pilot scale in advance of opening a demonstration plant in 2011 and a full-scale commercial plant in 2013. The company also is developing strategic partnerships and joint ventures for commercialization.

OPXBIO has raised $22.4 million with venture investors Mohr Davidow Ventures, Braemar Energy Ventures, Altira Group, and X/Seed Capital.

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