SOURCE: Industrial Biotechnology Corp.

March 07, 2007 13:38 ET

Industrial Biotechnology Corporation Announces Partnership With Twin Rivers Technologies

SARASOTA, FL -- (MARKET WIRE) -- March 7, 2007 -- Industrial Biotechnology Corporation (PINKSHEETS: IBTY) (IBC), a company dedicated to new biotechnologies and innovations in the chemical industry, today announced that it has developed a partnership with Twin Rivers Technologies (TRT), one of the largest and fastest growing oleo chemical, natural ingredients and bio-fuel companies in North America, to source and market ethanol and ethanol derivatives derived from bio renewable resources.

The non-exclusive partnership utilizes TRT's knowledge of the global chemicals and fuels distribution industries to identify potential customers and/or distributors for ethanol and ethanol derivatives. TRT will also provide its sales, logistics and operations expertise and assist IBC in negotiating product supply agreements with IBC's Asian manufacturing sources. Effectively, TRT and IBC will become partners with respect to the marketing of ethanol or ethanol derivatives from Asia and identifying ethanol and ethanol applications for IBC technologies and capabilities.

"We are very excited about the opportunity to partner with IBC. TRT has the knowledge and expertise to bring IBC's technologies efficiently to market. Bio-ethanol is a natural extension of TRT's bio-fuels product range. The relationship is also part of TRT's stated strategy of globalizing the company," said Ian S. Edwards, CEO of TRT.

"Twin Rivers possesses the expertise and know how necessary to monetize our bio technologies and capitalize on the global need for chemical feedstock derivatives derived from renewable resources that are less expensive and substantially better for our environment," said Andy Badolato, CEO of IBC.

About Twin Rivers Technologies

TRT was founded in 1994 and has grown rapidly from its origins as a New England fatty acid producer. Today, it has business throughout North America in oleo chemicals, natural ingredients, and bio fuels. The company is committed to achieving significant growth in the next five years by meeting new and existing global customer's needs in all three business areas. More on TRT can be found on the company's website www.twinriverstechnologies.com

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
    Sarasota, FL 34237
    941-925-2500