Virent’s biobased paraxylene helps create prototype next-generation plant-based bottle

Virent’s biobased paraxylene helps create prototype next-generation plant-based bottle

MADISON, Wisconsin, Oct. 18, 2021 – Virent Inc. has used its pioneering BioForming® technology to provide a critical component of Coca-Cola’s recently announced run of 900 plastic bottles made from 100% plant-based materials. Through this prototype, Virent’s biobased paraxylene, made from naturally occurring sugars, has the potential to contribute to Coca-Cola’s goal to use 3 million tons less virgin plastic from oil-based sources by 2025.

“We’re excited to be a part of Coca-Cola’s effort to develop sustainable, future-facing packaging solutions,” said Dave Kettner, president and general counsel of Virent. “This collaboration represents a milestone in the development of petroleum-free plastics and builds on our track record of producing demonstration-scale biobased chemical feedstocks for fabric, fiber and packaging applications.”

Virent’s proven catalytic chemistry converts sugars into biobased fuels and chemicals that are molecularly identical to those made from petroleum. Because they are made from plant-based feedstocks, these fuels and chemicals are reusing carbon already in the atmosphere, thereby reducing the products’ carbon intensities. Life cycle analysis studies for the commercial production of Virent’s bio paraxylene indicate up to a 75% reduction in carbon emissions compared to petroleum-based paraxylene, with the potential to achieve net-zero or better reductions in the future.

Even as plastic recycling increases, some “virgin quality” plastic will continue to be needed to maintain packaging quality, and Virent’s technology helps ensure this quality can be maintained sustainably. Because Virent’s biobased paraxylene is identical to that derived from petroleum, it is compatible with current industry infrastructure, can be recycled along with petroleum-based plastics, and requires no retrofitting or special equipment to handle.

“We have been working with partners to develop the right technologies to achieve 100% plant-based content, aiming for the lowest possible carbon footprint,” said Nancy Quan, Chief Technical and Innovation Officer at The Coca-Cola Company. “It’s exciting that we have reached a point where these technologies exist and can be commercially scaled.”

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About Virent
Virent uses its patented BioForming® technology to create the fuels and chemicals the world needs from a wide range of naturally occurring, renewable resources. Virent’s patented catalytic chemistry converts biobased carbohydrate feedstocks into products molecularly identical to those made from petroleum. Virent’s technology can produce a range of fuel products, including gasoline, diesel, and jet fuel, as well as chemicals used for plastics, fibers and films. Virent is a wholly-owned subsidiary of Marathon Petroleum Corporation.

Virent’s BioForm® fuel component used in test flight of 100% sustainable aviation fuel

Virent’s BioForm® fuel component used in test flight of 100% sustainable aviation fuel

 

MADISON, Wisconsin, Oct. 15, 2021 – Virent’s BioForm® synthesized aromatic kerosene (SAK) was used in a United Airlines test flight on Oct. 13, demonstrating that sustainable aviation fuel (SAF) can be 100% renewable, 100% fossil free, and 100% compatible with today’s aviation fleet. The test flight was powered by one engine burning SAF and the other using traditional, petroleum-based jet fuel in order to provide a direct comparison of the two fuels under identical operating parameters.

SAF is typically a blend of a renewable fuel called HEFA (hydroprocessed esters and fatty acids) and petroleum-based fuel, which provides compounds called aromatics that are necessary to meet current fuel specifications. But the SAF used during the United test flight was a 100% renewable “drop-in” replacement for petroleum jet fuel because Virent’s SAK – derived from plant sugars – was able to provide the necessary aromatics to the HEFA fuel, eliminating the need for petroleum products. Virent’s parent company, Marathon Petroleum Corporation, supported the SAF test flight by providing testing, blending, and transportation of the 100% SAF.

“The flight was a great success, and we’re excited that we have this opportunity to contribute to a first-of-its-kind test of 100% drop-in SAF in a commercial aircraft,” said Virent President and General Counsel Dave Kettner. “Thanks to Virent’s BioForm® SAK, this test flight showed that 100% renewable fuel can meet current specifications and work flawlessly in today’s commercial airline engines.”

Because Virent’s SAK is made from plant-based feedstocks, the carbon impact on a lifecycle basis is less than that of petroleum-based fuels. Virent is targeting a greater than 50% reduction in greenhouse gas emissions for SAK from a commercial project, with the potential to achieve net zero emissions using options such as renewable electricity, renewable natural gas and carbon capture and sequestration. Virent has also developed data from engine testing that shows a SAK/HEFA blend is cleaner burning and has lower particulate matter emissions than conventional jet fuels.

“The modern airline industry requires energy-dense liquid fuels, and Virent’s technology is creating alternatives to petroleum-based products using a wide range of naturally occurring renewable resources,” said Marathon Refining Technology Director Jeff Sexton. “Virent is building on the broad market potential for its bio-based products, and we’re excited to be a part of this milestone in the development of sustainable aviation fuel.”

Kettner noted that one of the benefits of the test flight was that it demonstrated the 100% drop-in SAF could be used with no modification to the aircraft and engine or special tooling, and will support approval of SAK by ASTM International – the industry body that approves new jet fuels.

“The global use of SAF is growing, with thousands of commercial flights having been powered by blends of SAF and petroleum jet fuel,” said Kettner. “Showing that Virent’s BioForm® SAK enables a 100% SAF that meets current jet fuel specifications is a big step, as it demonstrates that SAF can be a reality without the need to make significant changes to the current aviation fleet and infrastructure. We are proud to be playing a role in this advancement toward sustainable aviation fuels.”

Virent produced the SAK in its demonstration pilot plant at its facility in Madison, Wisconsin, using corn dextrose from Iowa. To date, Virent has produced tens of thousands of gallons of its bio-based products for testing in various applications, including gasoline, jet fuel and to provide chemicals for 100% biobased plastics, fibers and films. Virent is currently working to commercialize its BioForming® process and evaluating options for a first commercial deployment.

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About Virent
Virent is a wholly owned subsidiary of Marathon Petroleum Corporation, an integrated refining, marketing and midstream logistics company. Virent uses its patented BioForming® technology to create the fuels and chemicals the world needs from a wide range of naturally occurring, renewable resources. Virent’s patented chemistry converts biobased carbohydrate feedstocks into products molecularly identical to those made from petroleum. Virent’s technology can produce a range of fuel products, including gasoline, diesel, and jet fuel, as well as chemicals used for plastics, fibers and films. Virent is currently working with Johnson Matthey to further develop the BioForming® technology and license it for future commercialization.

Cargill and Virent collaborate to study Virent’s BioForming® technology to produce biobased fuels and chemicals

Cargill and Virent collaborate to study Virent’s BioForming® technology to produce biobased fuels and chemicals

Minneapolis and Madison, Wisconsin – (Sept. 30, 2020) – Biobased fuels and chemicals play a critical role in meeting the increasing global demand for more environmentally friendly sources of energy and plastics to make clothing, electronics, packaging, and building materials. To explore the production of these renewable resources, Cargill and Virent, Inc. are working together to evaluate the use of Cargill’s corn dextrose as a feedstock to Virent’s BioForming® technology for the production of “drop-in” low-carbon biofuels and biochemicals.

Virent’s BioForming® technology uses sugars found in plants as a feedstock to produce drop-in renewable gasoline and jet fuel, as well as lower carbon biochemicals, including bio-paraxylene, a key raw material for producing 100% renewable and recyclable biopolyester. The sugars may originate from any plant source, including first generation crops such as corn, sugar cane and sugar beets, as well as lignocellulosic materials derived from wood, corn stover, bagasse and other sources.

“We are working to scale up the BioForming® process and are very pleased to announce our work with Cargill to study the availability of corn dextrose as a feedstock,” said Dave Kettner, President of Virent. “We believe U.S. corn dextrose is an attractive feedstock for our process and expect this study to demonstrate how U.S. corn dextrose can be used for broader applications to produce renewable gasoline, jet fuel and biobased chemicals. Establishing the Virent BioForming® process as a viable opportunity for producing jet fuel and renewable gasoline as a complement to ethanol will not only open new markets for corn but expand the greater opportunities for both renewable fuels and chemicals.”

Upon completion of the study, Virent will use the findings to evaluate options for scale-up and the development of a first commercial plant utilizing the BioForming® technology. The long-term objective is to use commercially available feedstocks today as a bridge to next-generation lignocellulosic feedstocks in the future.

“Cargill is excited to take this next step in our long-standing journey with Virent. Virent’s biochemical R & D expertise and Bioforming® technology combined with Cargill’s global strength in carbohydrate feedstock and expertise in corn processing makes this a natural joint effort,” said Cargill Managing Director, Mike Wagner. “Building out the bioeconomy and increasing the diversification of our corn grind are both at the core of our strategy, making this an ideal project and highly compatible partnership for Cargill.”

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About Virent, Inc.
Virent is a wholly owned subsidiary of Marathon Petroleum Corporation, a leading, integrated, downstream energy company. Virent technology is creating the low-carbon fuels and chemicals the world demands using a wide range of naturally occurring, renewable resources. Its patented technology features catalytic chemistry to convert plant-based materials into a full range of products identical to those made from petroleum, including gasoline, diesel, jet fuel, and chemicals for plastics and fibers, including bio-paraxylene, benzene and toluene. The products are drop-in replacements that enable full utilization of existing logistics infrastructure.

For more information, please visit: www.virent.com

About Cargill

Cargill’s 155,000 employees across 70 countries work relentlessly to achieve our purpose of nourishing the world in a safe, responsible and sustainable way. Every day, we connect farmers with markets, customers with ingredients, and people and animals with the food they need to thrive.

We combine 155 years of experience with new technologies and insights to serve as a trusted partner for food, agriculture, financial and industrial customers in more than 125 countries. Side-by-side, we are building a stronger, sustainable future for agriculture. For more information, visit Cargill.com and our News Center.

Further information:
Virent Press Office, Madison, Wis. USA +1-608-210-3365, shelly_norris@virent.com
Cargill Media Relations, Wayzata, Minn., 952-742-4204, kelly_sheehan@cargill.com

Forward-looking statements
This press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements relate to, among other things, the viability of the opportunities discussed herein. You can identify forward-looking statements by words such as “anticipate,” “believe,” “design,” “estimate,” “expect,” “forecast,” “goal,” “guidance,” “imply,” “intend,” “objective,” “opportunity,” “outlook,” “plan,” “position,” “pursue,” “prospective,” “predict,” “project,” “potential,” “seek,” “strategy,” “target,” “could,” “may,” “should,” “would,” “will” or other similar expressions that convey the uncertainty of future events or outcomes. Such forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the control of the companies and are difficult to predict. Factors that could impact the opportunities described above are: the timing and extent of changes in commodity prices and demand for renewable biofuels, biochemicals and feedstocks; continued/further volatility in and/or degradation of market and industry conditions; changes to the expected construction costs and timing of projects; completion of capacity by competitors; the ability to obtain required regulatory approvals on a timely basis; or the occurrence of an operational hazard or unforeseen interruption. In addition, the forward-looking statements included herein could be affected by general domestic and international economic and political conditions.

BP Partners with Virent and Johnson Matthey

PRESS RELEASE

BP partners with Virent and Johnson Matthey on Virent’s Bioforming® Process for Production of Bio-paraxylene

BP, Virent Inc. and Johnson Matthey (JM) have signed an agreement that will further advance the commercialization of Virent’s Bioforming® process for production of bio-paraxylene (PX), a key raw material for the production of renewable polyester.

Virent’s Bioforming® technology, which is being developed with JM, produces drop-in reformate product from renewable sources that can be used to produce renewable fuels and also processed into lower carbon intensive bio-PX, the feedstock for bio- purified terephthalic acid (PTA), using existing technologies.

As part of this agreement, the parties will work together to commercialise the BioForming® technology – BP will contribute technical resources and has exclusive rights to negotiate becoming the sole manufacturer of bio-PX using Virent’s technology.

Charles Damianides, BP’s vice-president of Petrochemicals Technology and Licensing, said: “We consider Virent’s technology to be the leading route to commercial quantities of renewable bio-PX that may enable BP’s existing petrochemicals plants to produce a distinctive product in support of our commitment to advance a low carbon future. In our petrochemicals business we have also introduced our PTAir product line, a low carbon PTA product, and we continue to work toward improving the efficiency of our operations.”

“We have been working with JM to scale up the BioForming® process for production of renewable fuel and are very pleased to enter into this agreement with BP to commercialize the technology for production of bio-PX and bio-PTA,” said Dave Kettner, President of Virent. “This is an indication of the flexibility of the BioForming® technology to produce both bio-fuels and bio-aromatic chemicals.”

Eugene McKenna, Business Development and Innovation Director at JM added: “JM is a leader in science that makes the world cleaner and healthier. In bringing this latest technology to market, we continue to apply our catalyst and process engineering expertise and capabilities to tackle some of the world’s biggest challenges. We are delighted that BP has selected this technology to support its ambitions in supplying renewable bio-PX. This is an important step in increasing the quantity of renewable feedstocks used to make polyester packaging and fibers. We will continue to use our science and engineering skills to facilitate wider adoption of this technology.”

About BP
BP is committed to advancing a low carbon future, aiming to reduce greenhouse gas emissions in its operations, improve its products and services to help customers lower their emissions, and create new low carbon businesses.

Technology is ever-present in all that we do – from safely discovering and recovering oil and gas, to renewable energy, digital, and lower carbon fuels and products. We seek innovations that help to make our operations and products more efficient and sustainable.

We have scientists and technologists at eight major technology centres in the US, UK, Asia and Germany. We complement our comprehensive research capability with external collaborations that provide a cross-cutting range of specialisms, supported by innovative academic programmes.

For more information, please visit: bp.com/technology

About Virent, Inc
Virent is a wholly owned subsidiary of Marathon Petroleum Corporation, a leading, integrated, downstream energy company. Virent technology is creating the low carbon fuels and chemicals the world demands using a wide range of naturally-occurring, renewable resources. Its patented technology features catalytic chemistry to convert plant-based materials into a full range of products identical to those made from petroleum, including gasoline, diesel, jet fuel, and chemicals for plastics and fibers, including bio-paraxylene, benzene and toluene. The products are drop-in replacements that enable full utilization of existing logistics infrastructure.

For more information, please visit: virent.com

About Johnson Matthey (JM)
Johnson Matthey is a global leader in science that enables a cleaner and healthier world. With over 200 years of sustained commitment to innovation and technological breakthroughs, we improve the function, performance and safety of our customers’ products. Our science has a global impact in areas such as low emission transport, pharmaceuticals, chemical processing and making the most efficient use of the planet’s natural resources. Today more than 14,000 Johnson Matthey professionals collaborate with our network of customers and partners to make a real difference to the world around us.

For more information, please visit: matthey.com

Further information:
BP Press Office, London, UK +44 (0)207 496 4076, bppress@bp.com

JM Press Office, London, UK +44 (0)207 269 8028, jmpr@matthey.com

Virent Press Office, Madison, USA +1-608-210-3365, shelly_norris@virent.com

Cautionary statement:
In order to utilize the ‘safe harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995 (the ‘PSLRA’), BP is providing the following cautionary statement.  This press release contains certain forward-looking statements – that is, statements related to future, not past events and circumstances – which may relate to one or more of the financial conditions, results of operations and businesses of BP and certain of the plans and objectives of BP with respect to these items. These statements are generally, but not always, identified by the use of words such as ‘will’, ‘expects’, ‘is expected to’, ‘aims’, ‘should’, ‘may’, ‘objective’, ‘is likely to’, ‘intends’, ‘believes’, ‘anticipates’, ‘plans’, ‘we see’ or similar expressions.  Actual results may differ from those expressed in such statements, depending on a variety of factors including the risk factors set forth in our most recent Annual Report and Form 20-F under “Risk factors” and in any of our more recent public reports.

Our most recent Annual Report and Form 20-F and other period filings are available on our website at www.bp.com, or can be obtained from the SEC by calling 1-800-SEC-0330 or on its website at www.sec.gov.

Strategic Consortium Announced to Commercialize Virent’s BioForming Technology for Low Carbon Fuels and Bio-Paraxylene

Strategic Consortium Announced to Commercialize Virent’s BioForming Technology for Low Carbon Fuels and Bio-Paraxylene

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Madison, WI ( September15, 2016) – Virent today announced that it has established a strategic Consortium with Tesoro, Toray, Johnson Matthey and The Coca-Cola Company focused on completing the development and scale up of Virent’s BioForming® technology to produce low carbon bio-based fuels and bio-paraxylene (a key raw material for the production of 100% bio-polyester). The Consortium members will work together to finalize technical developments and commercial arrangements, with the objective of delivering a commercial facility to produce cost effective, bio-based fuels and bio-paraxylene.


The Consortium will connect the key strengths and commercial opportunity of each member, who are all leaders in their sectors with a strong desire to advance competitive sustainable solutions. Each member will bring unique capabilities and resources in support of the primary Consortium objective to develop the first commercial production facility for the BioForming process. Individual members will contribute to that effort through technical and engineering assistance, infrastructure, supply chain support and/or product off-take commitments. The Consortium will work jointly to develop the scale up strategy, including the size and location of the first plant, which will be underpinned by fuel and chemical offtake commitments. Johnson Matthey (JM) and Virent will form a potent technical team to conclude catalyst and process development, as well as the subsequent marketing and licensing of the resulting low carbon fuels and chemicals technology platform.


“This is a critical and innovative approach to address scale-up challenges inherent in the deployment of renewable technologies,” said Lee Edwards, Virent CEO. “We are delighted to share a common vision with a global group of respected industry leaders, recognized for their innovation and commitment to meet the changing needs of their customers who seek more sustainable products and services.”


“As announced earlier this month, Tesoro expects to close on the acquisition of Virent by the end of September, and believes that this Consortium will be key to developing a deployment plan for the Virent technology on a commercial scale,” said CJ Warner, Executive Vice President of Operations at Tesoro. “We are focused on fostering the development of high-quality, lower-carbon, renewable feedstocks and blendstocks that can either be co-processed in existing refineries or blended seamlessly with traditional fuels.“


“Toray is focused on contributing to a low carbon society through innovative and sustainable products. Bio-based polymer, in particular 100% bio-based polyester products, is one example of our efforts. Toray expects that the Consortium has the necessary technology and resources to accelerate the availability of commercial volumes of 100% bio-based polyester,” said Hidenori Terai, General Manager, Fibers and Textiles Green Innovation and Life Innovation Business Planning Dep of Toray Industries, Inc.


“We are delighted to be contributing our catalyst and engineering experience and capabilities in support of this innovative project which further extends our portfolio of sustainable technologies. The participants in the Consortium provide a concerted combination of competitive advantage in plant operations, process technology, engineering capability and consumer innovation.” said Geoff Otterman Director of Johnson Matthey’s Process Technologies Division.


“Participating in the Consortium offers The Coca-Cola Company a great opportunity to continue evolving our long standing relationship with Virent and creates a strong pathway to enhance the value proposition for our innovative and well recognized PlantBottle® packaging program. We are pleased to be part of this extraordinary team,” said Michael Knutzen, PlantBottle® Global Program Director, The Coca-Cola Company.


The combined capabilities and resources of the consortium members will provide significant advantages as the Consortium progresses the technology and commercial deployment. Other parties may join the Consortium over time to complement the current members and provide further support to the effort.

About Virent:

Virent is creating the low carbon chemicals and fuels the world demands using a wide range of naturally-occurring, renewable resources. Its patented technology features catalytic chemistry to convert plant-based materials into a full range of products identical to those made from petroleum, including gasoline, diesel, jet fuel, and chemicals for plastics and fibers. The products are drop-in replacements that enable full utilization of existing logistics infrastructure without blending limitations.

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Contact:
Shelly Norris, Virent, Inc.
shelly_norris@virent.com
608-210-3365

3571 Anderson St. Madison, WI 53704

Tesoro to Acquire Virent in Support of Commercializing Renewable Fuels and Chemicals

Tesoro to Acquire Virent in Support of Commercializing Renewable Fuels and Chemicals

Tesoro to Acquire Virent in Support of Commercializing Renewable Fuels and Chemicals

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Madison, Wisconsin (September 6, 2016) – Virent and Tesoro announce today they have reached an agreement for Tesoro to become Virent’s new strategic owner. The acquisition will support the scale up and commercialization of Virent’s BioForming® technology for the production of low carbon bio-based fuels and chemicals. As a result of the acquisition, Virent will become a wholly owned subsidiary of Tesoro and remain in Madison, Wisconsin. The companies initiated a strategic relationship in January 2016, and have worked together to establish a forward plan to scale-up the technology and reduce deployment risks to meet the increasing demands for high quality, renewable fuels and chemicals. “The Tesoro announcement is a critical milestone for Virent to establish a pathway to commercialization with a recognized leader in refining, marketing and logistics. While we will maintain our entrepreneurial spirit and culture, Virent will also benefit from the strategic support and capability of Tesoro, capturing the best of both companies,” said Lee Edwards, Virent CEO. “We are excited to start the next phase of work with Tesoro, along with our other strategic partners.”

About Virent:

Virent is creating the low carbon chemicals and fuels the world demands using a wide range of naturally-occurring, renewable resources. Its patented technology features catalytic chemistry to convert plant-based materials into a full range of products identical to those made from petroleum, including gasoline, diesel, jet fuel, and chemicals for plastics and fibers. The products are drop-in replacements that enable full utilization of existing logistics infrastructure without blending limitations.

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Contact:
Shelly Norris, Virent, Inc.
shelly_norris@virent.com
608-210-3365

3571 Anderson St. Madison, WI 53704

Virent BioFormPX® Paraxylene Used to Produce World’s First 100% Plant Based Polyester Shirts

Virent BioFormPX® Paraxylene Used to Produce World’s First 100% Plant Based Polyester Shirts

Virent BioFormPX® Paraxylene Used to Produce World’s First 100% Plant Based Polyester Shirts

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Madison, WI (April 21, 2016) – Virent announced today that its BioFormPX® paraxylene was used to produce the world’s first 100% plant-based polyester shirts. This important project demonstrates the potential of Virent’s technology to produce demonstration quantities of bio-based, crude oil free polyester for production of garments and textiles.

Polyester is the largest and one of the fastest growing synthetic fibers in the world. A key raw material for the production of polyester is paraxylene, which today comes exclusively from crude oil. Virent’s technology produces BioFormPX paraxylene from plant-based materials, resulting in much lower greenhouse gas emissions, yet with the same versatility and performance as its petroleum counterpart. Based on the success of this project, Virent has proven that 100% plantbased polyester fabrics and petroleum-free polyester garments are achievable and a lower carbon footprint alternative to current petroleum-based fabrics.

“Virent’s BioFormPX paraxylene has previously been used to produce 100% plant-based PET plastic bottles. This project demonstrates how our technology and products can also be used to produce crude oil free polyester for use in everyday fabric and fiber applications” said Lee Edwards, Virent CEO. “The fabric and shirts produced from plant-based polyester are identical in all aspects to petroleum polyester, with the important exception that they have a much lower carbon footprint.” Far Eastern New Century (FENC) worked with Virent to convert the BioFormPX to bio-polyester, and to produce the bio-polyester fabric and shirts.

In the course of its development work over the last few years, Virent has progressed its BioFormPX paraxylene technology to commercial readiness and improved the process economics. Virent has run its demonstration system to fulfill customer orders for both fuels and chemicals since it started operation in 2010. Virent currently has the capability to produce large quantities of BioFormPX paraxylene and other bio-based aromatic chemicals (benzene, toluene, and mixed xylenes) for application development in areas such as packaging, fabrics, and textiles. Virent also has produced sizable biofuels samples (gasoline, jet and diesel) for customer sampling and product development.

About Virent:

Virent is replacing crude oil by creating the chemicals and fuels the world demands using a wide range of naturally-occurring, renewable resources. Its patented technology features catalytic chemistry to convert plant-based materials into a full range of products identical to those made from petroleum, including gasoline, diesel, jet fuel, and chemicals for plastics and fibers. The products are drop-in replacements that enable full utilization of existing logistics infrastructure without blending limitations. The development of Virent’s BioForming® technology platform is supported through strategic partners including Cargill, Coca-Cola, Honda, Shell and Tesoro. The company has received several grants from the U.S. Departments of Commerce, Energy and Agriculture and has been recognized with many honors, including the World Economic Forum Technology Pioneer award and the EPA’s Presidential Green Chemistry Challenge Award.

Please learn more about us, including photos. and more information on the 100% bio t-shirts, at Virent.com.

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Contact:
Shelly Norris, Virent, Inc.
shelly_norris@virent.com
608-210-3365
3571 Anderson St.
Madison, WI 53704

Virent Announces Strategic Collaboration with Tesoro

Virent Announces Strategic Collaboration with Tesoro to Advance the Commercialization of Virent’s BioForming Technology for Low Carbon Fuels and Chemicals

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Madison, WI (February 1, 2016) – Virent has entered into a new strategic relationship with Tesoro to accelerate the development and commercialization of Virent’s BioForming technology to produce cost effective, low-carbon, drop-in, bio-based fuels and chemicals. The agreement provides funding to Virent to advance its technology and commercialization while establishing a framework for Tesoro to provide broader support and involvement in Virent’s deployment efforts longer term.

“This agreement with Virent furthers our plans to foster the development of renewable feedstocks that we can co-process at our refineries,” said CJ Warner, Executive Vice President of Strategy and Business Development at Tesoro. “Virent’s innovative technology produces high quality products including chemicals and fuels that are fully compatible with our existing infrastructure and meet our customers’ demand for lower carbon fuels.”

“I am delighted with our new relationship with Tesoro and their support for both our low carbon fuel and chemicals development. Tesoro’s plan embraces innovative approaches to provide drop-in, low carbon fuels for many of the largest fuel markets in the U.S., while utilizing the existing refining and logistics infrastructure. It is a great fit for Virent” said Lee Edwards, CEO.

The Virent relationship with Tesoro connects the technology, resources and capability required to commercialize low carbon solutions with the greatest efficiency and lowest cost. It is a powerful example of the potential of partnering to meet the growing demands for more sustainable products.

About Virent:

Virent is creating the low carbon chemicals and fuels the world demands using a wide range of naturally-occurring, renewable resources. Its patented technology features catalytic chemistry to convert plant-based materials into a full range of products identical to those made from petroleum, including gasoline, diesel, jet fuel, and chemicals for plastics and fibers. The products are drop-in replacements that enable full utilization of existing logistics infrastructure without blending limitations. The development of Virent’s BioForming® technology platform is supported through strategic partners including Cargill, Coca-Cola, Honda, Shell and Tesoro. The company has received several grants from the U.S. Departments of Commerce, Energy and Agriculture and has been recognized with many honors, including the World Economic Forum Technology Pioneer award and the EPA’s Presidential Green Chemistry Challenge Award.

To learn more about us, please visit Virent.com.

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Contact:
Shelly Norris, Virent, Inc.
shelly_norris@virent.com
608-210-3365
3571 Anderson St.
Madison, WI 53704

Virent Bio-Jet Provides More Than 50% Reduction in Particulate Matter Emissions

Virent Bio-Jet Provides More Than 50% Reduction in Particulate Matter Emissions

Virent Bio-Jet Provides More Than 50% Reduction in Particulate Matter Emissions

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Madison, WI, January 6, 2016 – Rolls-Royce Testing Demonstrates Virent Synthesized Aromatic Kerosene (SAK) Bio-Jet Fuel Blend Provides Health and Environmental Benefits While Maintaining Engine Performance

Bio-jet emissions testing by Rolls-Royce and supported by the Federal Aviation Administration (FAA) under the Continuous Lower Energy, Emissions, and Noise (CLEEN) program, confirmed that jet fuels containing Virent’s BioForm® Synthesized Aromatic Kerosene (SAK) fuel blend produced a greater than 50% reduction in particulate matter emissions compared to conventional jet fuel. The emissions data and other successfully completed test results have been summarized in a report released by Rolls-Royce, British Airways, and the FAA.

The testing verified the potential for the SAK fuel to reduce the adverse environmental impact and health effects resulting from jet fuel combustion. The International Civil Aviation Organization (ICAO), a specialized agency within the United Nations, is leading international policy making efforts to control particulate matter and greenhouse gas emissions. Virent’s SAK fuel can reduce both particulate matter and greenhouse gas emissions without compromising engine performance, and when fully commercialized will support the growth of the aviation industry while addressing anticipated ICAO regulations.

Virent was chosen to participate in the initial Rolls-Royce Laboratory Test program, and was then selected by Rolls-Royce to proceed to the more advanced Rig Testing portion of the program. Virent’s SAK fuel blend met all test requirements and the report concluded that the fuel “…offers the potential to be [a] drop-in fuel and hence achieve approval for use for the aviation industry”.

BioForm SAK fuel is a unique jet fuel-blending component produced by Virent’s BioForming® process, a catalytic route that converts plant-derived feedstocks to hydrocarbons. Virent’s SAK fuel contains aromatics that are cleaner-burning than those found in conventional, refined crude oil based jet fuel. The Rolls-Royce testing of the SAK fuel blends demonstrated this capability with a 50% to 80% reduction in particulate matter emissions depending on engine operating conditions.

Virent produced the renewable SAK fuel in its pilot demonstration plant in Madison, Wisconsin.
“We believe Virent’s bio-derived SAK fuel has the potential to provide the aviation industry with a cost effective solution to reduce jet engine particulate matter and greenhouse gas emissions without impacting engine performance. I want to express my appreciation for FAA’s role in sponsoring the testing, and to the Rolls-Royce team for their support and expertise in delivering these important results,” said Lee Edwards, Virent CEO.

Virent will progress additional testing of the SAK fuel in collaboration with external parties as part of the ASTM certification process.

About Virent

Virent is replacing crude oil by creating the chemicals and fuels the world demands using a wide range of naturally-occurring, renewable resources. Its patented technology features catalytic chemistry to convert plant-based materials into a full range of products identical to those made from petroleum, including gasoline, diesel, jet fuel, and chemicals for plastics and fibers. The products are drop-in replacements that enable full utilization of existing logistics infrastructure without blending limitations. The development of Virent’s BioForming® technology platform is supported through strategic partners including Cargill, Coca-Cola, Honda and Shell. The company has received several grants from the U.S. Departments of Commerce, Energy and Agriculture and has been recognized with many honors, including the World Economic Forum Technology Pioneer award and the EPA’s Presidential Green Chemistry Challenge Award.

To learn more about us, please visit Virent.com.

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Contact:
Shelly Norris, Virent, Inc.
shelly_norris@virent.com
608-210-3365
3571 Anderson St.
Madison, WI 53704

Virent Takes Top Spot for Hottest Small Company in the Advanced Bioeconomy

Virent Takes Top Spot for Hottest Small Company in the Advanced Bioeconomy

Virent Takes Top Spot for Hottest Small Company in the Advanced Bioeconomy

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Madison, WI, November 4, 2015 – BioFuels Digest announced this morning, as part of the Advanced Bioeconomy Leadership Conference (ABLC) in San Francisco, that Virent was the number one company in the 2015-16 “40 Hottest Small Companies” rankings. The annual rankings recognize innovation and achievement in biobased fuels, chemicals and materials by emerging companies.

Virent’s strong technological and commercial capabilities were a key part of receiving this award. Virent has advanced a compelling process offering seamless catalytic conversion of renewable feedstocks to drop-in fuels and chemicals. This technology can significantly reduce the carbon footprint of everyday products such as plastics, fibers, packaging and transportation fuels. With the strength of this technology, Virent has forged notable partnerships with a number of impressive external parties, including Coca-Cola, Shell and Cargill.

The annual rankings are based 50 percent on votes from an invited panel of distinguished international selectors, and 50 percent on votes from subscribers of The Biofuels Digest. The Miami, FL-based Digest serves more than 1,800,000 unique readers and followers via the web, newsletters and social media in every UN-recognized country.

Lee Edwards, Virent CEO, was in attendance in San Francisco and graciously accepted the award on behalf of the Company. “This result is a great honor and tribute to our employees, partners and customers. With so many promising and accomplished companies in this industry, Virent’s top ranking continues to validate the breadth of our unique technology. This outstanding achievement is the result of years of great progress on process performance and a unique product portfolio of drop-in fuels and chemicals,” said Edwards. “I also appreciate Jim Lane and the BioFuels Digest staff for their efforts in promoting and deepening awareness of the many advancements made within the industry.”

About Virent

Virent is replacing crude oil by creating the chemicals and fuels the world demands using a wide range of naturally-occurring, renewable resources. Its patented technology features catalytic chemistry to convert plant-based materials into a full range of products identical to those made from petroleum, including gasoline, diesel, jet fuel, and chemicals for plastics and fibers. The products are drop-in replacements that enable full utilization of existing logistics infrastructure without blending limitations. The development of Virent’s BioForming® technology platform is supported through strategic partners including Cargill, Coca-Cola, Honda and Shell. The company has received several grants from the U.S. Departments of Commerce, Energy and Agriculture and has been recognized with many honors, including the World Economic Forum Technology Pioneer award and the EPA’s Presidential Green Chemistry Challenge Award.

To learn more about us, please visit Virent.com.

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Contact:
Shelly Norris, Virent, Inc.
shelly_norris@virent.com
608-210-3365
3571 Anderson St.
Madison, WI 53704

Virent BioFormPX® Paraxylene Used for World’s First PET Plastic Bottle Made Entirely From Plant-Based Material

Virent BioFormPX® Paraxylene Used for World’s First PET Plastic Bottle Made Entirely From Plant-Based Material

Virent BioFormPX® Paraxylene Used for World’s First PET Plastic Bottle Made Entirely From Plant-Based Material

Bottle Showcased by The Coca-Cola Company at Milan World Expo 2015

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Madison, Wisconsin – June 3, 2015 – Virent announced today that its BioFormPX® paraxylene was used in the world’s first demonstration scale production of a PET plastic bottle made entirely from plant-based materials. The breakthrough bottles use BioFormPX produced at Virent’s Madison, Wisconsin demonstration plant. The bottles were showcased as part of The Coca-Cola Company’s pavilion at Expo Milano 2015 – a world-class exhibition celebrating sustainable innovation. Far Eastern New Century (FENC) worked with Virent and The Coca-Cola Company to convert the BioFormPX to bio-PET resin.

Virent and The Coca-Cola Company have been working together since 2011, when the companies first announced an agreement focused on the development of Virent’s bio-based PX technology. In 2014, The Coca-Cola Company made an additional investment to support an expansion of Virent’s demonstration plant capability in order to help scale-up the separation and purification steps of the production process and produce larger quantities of BioFormPX.

“The Coca-Cola Company continues its innovative leadership commitment to sustainability and is a valued partner for Virent. Their support of our plans for the BioFormPX material in the next generation of PlantBottle packaging is critical in attracting manufacturing investment from the PET supply chain.” said Lee Edwards, Virent CEO.

In the course of its development work over the last few years, Virent has progressed its PX technology to commercial readiness and improved the process economics. Virent has run its demonstration system to fulfill customer fuel and chemical orders since it started operation in 2010. Virent currently has the capability to produce large quantities of BioFormPX paraxylene and other bio-based aromatic chemicals (benzene, toluene, and mixed xylenes) for applications such as packaging, textiles and construction. Virent also has produced sizable biofuels samples (gasoline, jet and diesel) for customer sampling and product development.

About Virent

Virent is replacing crude oil by creating the chemicals and fuels the world demands using a wide range of naturally-occurring, renewable resources. Its patented technology features catalytic chemistry to convert plant-based materials into a full range of products identical to those made from petroleum, including gasoline, diesel, jet fuel, and chemicals for plastics and fibers. The products are drop-in replacements that enable full utilization of existing logistics infrastructure without blending limitations. The development of Virent’s BioForming® technology platform is supported through strategic partners including Cargill, Coca-Cola, Honda and Shell. The company has received several grants from the U.S. Departments of Commerce, Energy and Agriculture and has been recognized with many honors, including the World Economic Forum Technology Pioneer award and the EPA’s Presidential Green Chemistry Challenge Award.

To learn more about us, please visit Virent.com.

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Contact:
Shelly Norris, Virent, Inc.
shelly_norris@virent.com
608-210-3365
3571 Anderson St.
Madison, WI 53704

Virent Secures $46 Million in Funding to Accelerate Biofuels Scale-up

FOR IMMEDIATE RELEASE

Virent Secures $46 Million in Funding to Accelerate Biofuels Scale-up

Royal Dutch Shell leads investment round, with strong participation from Cargill and other existing shareholders

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Madison, Wis., June 08, 2010 – Virent Energy Systems, Inc. announced today it has closed a $46.4 million third round of funding in which Shell and Cargill deepened their commitment to Virent’s breakthrough technology platform. Virent is an industry leader in converting plant sugars into sustainable advanced fuels for car, truck, train, and air transportation. This new round of funding will advance Virent’s efforts to scale its unique BioForming® process, a patented catalytic biorefinery platform, to commercial production volumes.

The investment agreement also expands an existing research and development collaboration with Shell for the production of biogasoline to include diesel fuel. With its new equity stake, Shell will also have a seat on Virent’s board. The investment round is further highlighted by 100 percent participation from existing investors.

The financing follows a March 2010 milestone in which Virent announced the successful start-up of the world’s first biogasoline production plant. The Virent demonstration plant can generate more than 10,000 gallons per year of premium biogasoline product and increases confidence in the commercial viability of the technology.

“Virent has a competitive advantage from our strong relationships with two premier, global companies, Shell and Cargill. Their significant capabilities and expertise across the value chain will be essential to accelerating deployment of Virent’s BioForming technology at commercial scale,” said Lee Edwards, Virent president and CEO. “I am especially gratified that our accomplishments to date have resulted in a $46.4 million funding round, which is well above our initial $25-40 million objective.”

“This investment demonstrates Shell’s confidence in Virent’s catalytic biofuel production processes,’’ said Luis Scoffone, Vice President of Alternative Energies at Shell. ‘‘The expansion of our joint technology program to include research into the production of diesel from plant sugars offers considerable potential and complements Shell’s wider biofuels portfolio.’’

“Over the past four years, Cargill has supported Virent’s innovative sugars-to-hydrocarbons technology as it has evolved into a true biorefinery solution with the potential to help replace petroleum as the source of fuels and many chemicals,” said Scott Portnoy, corporate vice president of Cargill. “We also see the technology’s feedstock flexibility as an important characteristic to enable replacing the sugar source used in producing biogasoline with nonfood sources, such as sugars derived from lignocellulosic feedstocks.”

Virent’s BioForming platform technology catalytically transforms soluble plant sugars into gasoline, jet fuel, diesel, and chemical molecules like those refined from crude oil. These renewable products have global market acceptance and can readily enter the market using existing pipelines and fuels pumps to power today’s vehicles at high blends.

About Virent Energy Systems
Virent’s BioForming process is a leading technology for the production of sustainable advanced biofuels, including biogasoline, diesel, and jet fuel, and many chemicals. The process has won numerous technology and innovation awards including the U.S. Environmental Protection Agency’s Presidential Green Chemistry Challenge and the World Economic Forum’s Technology Pioneer awards. Virent has 80 employees and a state of the art catalytic biorefining development facility located in Madison, Wisconsin. Virent counts premier, global companies Cargill, Shell, and Honda, among its investors. The BioForming technology is based on the patented Aqueous Phase Reforming process. To learn more, visit: www.virent.com.

For further information, contact:

Mary Willoughby Blanchard,
Director, Marketing
+1 608 237 8615

Notes to Editors:

Additional Virent press kit materials and images are available at:
www.virent.com/news/for-the-media/

Shell’s press release is available at:
http://www.shell.com/home/content/media/news_and_library/press_releases/2010/shell_virent_advanced_biofuels_07062010.html

VIRENT ENERGY SYSTEMS, INC.
3571 Anderson St.
Madison, WI 53704Phone: +1 608 663 0228
Fax: +1 608 663 1630
Internet: www.virent.com