Reaching scale
The inauguration of the Leuna demo plant marks another step forward for Global Bioenergies’ execution strategy. The fab is delivering good yields and the quality of the isobutene is better than expected. The company has also announced that it has received new EU grant funding for adaptation of its second-generation process. The next steps are execution on IBN-ONE, GBE’s first commercial joint venture at an industrial scale, securing financing from 2018 and further commercial licensing agreements. Our fair value remains unchanged at €35-63 per share.Global Bioenergies SA is a France-based company that specializes in the development of a process to produce isobutene biologically from renewable resources. Isobutene, a hydrocarbon, can be converted into fuels such as isooctane, as well as into various materials (synthetic rubber, organic glass, plastics). The process developed by Global Bioenergies SA is based on the design of an artificial metabolic pathway comprising several enzymes catalyzing reactions not observed in nature. Six patent applications have been filed by the Company. The first two applications covering the key steps of the bio-production of isobutene and other olefins have already been published. It distributes butane and propane containing bio-isobutene, in a e partnership with Global Bioenergies. It operates through Syngip.
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