SOURCE: Industrial Biotechnology Corp.

March 05, 2007 11:12 ET

Industrial Biotechnology Corporation Announces Implementation of the ALCHEMx™ Bio Renewable Resources Production Platform

New Technology Platform to Allow for the Conversion of Ethanol Into Low Cost Derivative Feedstock Chemical Compounds

SARASOTA, FL -- (MARKET WIRE) -- March 5, 2007 -- Industrial Biotechnology Corporation (PINKSHEETS: IBTY) (IBC), a company dedicated to new biotechnologies and innovations in the chemical industry, today announced that it has expanded its ALCHEMx™ technology capabilities by implementing a Bio Renewable Production Platform.

The ALCHEMx™ Production Platforms are a combination and integration of proprietary systems, intellectual property, licensed patents and the application of biotechnologies to convert inexpensive raw materials into useful products with high commercial values.

This new platform, known as the ALCHEMx™ Bio Renewable Resources Production Platform, utilizes IBC's proprietary bio-processes to convert ethanol into various chemical feedstock compounds and provides a low cost, environmentally safer alternative to the use of petrochemicals which are currently used to produce the targeted materials.

"The combination of bio-renewable ethanol produced at low cost, coupled with high efficiency, biological and chemical conversion technologies expands the base of products and solutions we can offer our industry partners," said Gary Howell, Ph.D., VP of Business Development.

IBC currently utilizes two other Production Platforms: The ALCHEMx™ Biocatalysis Production Platform, which uses special proteins called designer enzymes to transform low value materials into high value compounds, and the ALCHEMx™ Biosynthesis Production Platform, which harnesses cells to convert simple raw materials into complex high value molecules.

"The addition of this renewable resources platform demonstrates our bio chemical diversity. Based upon the dramatically increased production and implementation of ethanol globally, it now makes economic and environmentally responsible sense to use ethanol to produce bulk chemical feedstocks. We are currently working with chemical industry partners to exploit this opportunity and our bio competitive technology advantage," said Andy Badolato, CEO of IBC.

Combined, the ALCHEMx™ Platforms enable IBC to design, develop and manufacture biological chemical compounds at significantly lower costs with substantially lower environmental impact when compared to traditional methods and approaches. IBC's licensed patents and the ALCHEMx™ Production Platforms make possible the production of 40,000 plus commercially available compounds. These chemicals are used in a wide range of industries including: flavors and fragrances, fine chemicals, pharmaceuticals, cosmetics, agricultural, pesticides control, bio-energy, biomaterials and biopolymers.

About Industrial Biotechnology Corporation

Industrial Biotechnology Corporation (IBC) enables the biological production of chemicals through a combination of licensed patents, intellectual property and proprietary systems. We accomplish this through our ALCHEMx™ Productions Platforms, which are a systematic, streamlined approach to biologically manufacture chemicals more efficiently, at significantly lower costs, and with substantially lower environmental impact than traditional methods. IBC and its partners plan to produce and market new and established biologically produced chemicals to the pharmaceutical, bio-energy, agricultural, biopesticides, fine chemicals, flavors and fragrances, cosmeceuticals, biomaterials and biopolymer industries. For more information about Industrial Biotechnology Corporation, please visit its website at www.industrialbiotechnology.com.

Forward-Looking Statements

Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words such as "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe Industrial Biotechnology Corporation's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of Industrial Biotechnology Corporation, as appropriate, which could cause actual results to differ materially from those currently anticipated. Although Industrial Biotechnology Corporation believes the expectations reflected in any forward-looking statements are based on reasonable assumptions; they cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and Industrial Biotechnology Corporation does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Contact Information

  • Contact:
    Investor Relations
    Industrial Biotechnology Corporation
    2033 Main Street
    Suite 400
    Sarasota, FL 34237
    941-925-2500 phone
    941-925-2503 fax