Regulatory News:

DEINOVE (Paris:ALDEI) (Alternext Paris: ALDEI), an industrial biotech company developing innovative processes for producing biofuels and bio-based chemicals by using Deinococcus bacteria as host strains, announces that it won the first phase of the second edition of the Worldwide Innovation Challenge for its R&D program DEINOPLAST (biobased production of muconic acid) and will be allocated accordingly a subsidy of 200 000 Euros. 70% of this amount has already been paid to the Company.

This World Innovation Competition was initiated by the French government in 2013 to allow the emergence of innovative projects in strategic sectors in France.

DEINOPLAST was selected in the "Plant protein-based food products and new biobased materials" topic.

The DEINOPLAST program, biobased production of muconic acid, as a substitute to petroleum-based plastics and fibers

The DEINOPLAST program develops a process for producing muconic acid from plant raw material. Muconic acid is a chemical molecule whose derivatives - caprolactam, terephthalic acid, and adipic acid - are widely used in the plastics industries (in particular, automobile and packaging), and for the production of fibers for textile or industry (mainly nylon), and food (acidifying).

Biobased muconic acid is a real alternative for the chemical industry because it could replace polluting petroleum-based industrial processes on very significant markets. There is a significant demand for the production of biobased compounds, for example in plastics for food or textiles.

DEINOPLAST, winner of the Worldwide Innovation Challenge within the topic: "Development of plant protein-based food products and plant chemistry projects aiming to develop new materials”

The Worldwide Innovation Challenge has decided to support in this topic projects aiming at developing new methods for producing cost-competitive biobased alternatives that can substitute for petroleum-based products, from the R&D required for optimization to the demonstration phase. This contest is complementary to existing R&D calls for projects, notably the "plant chemistry" AMI (Call for Expressions of Interest) of the “Invest for the Future” programme.

Selected with six other winners from a total of 40 companies competing for the same topic, DEINOVE receives a subsidy of 200 000 Euros.

The projects have been rewarded for their scientific and technical quality, level of innovation, and their expected economic and societal benefits.

"We are extremely proud to have been selected by the Worldwide Innovation Challenge as a promising project for France. This award is recognition of the quality of our technology platform. It confirms our ambition to develop more responsible and sustainable production methods for various compounds and ingredients used in the formulation of everyday products," says Emmanuel PETIOT, CEO of DEINOVE. "We are grateful for the support we receive from the State for our projects."

About the Worldwide Innovation Challenge

The Worldwide Innovation Challenge is organized jointly by the Directorate General for Enterprise, the "Innovation 2030" Commission, and the General Investment Commission. It is part of the “Invest for the Future” programme and relies on Bpifrance.

This major innovation support program aims to fund projects carried out by companies and to develop national champions that will generate wealth, employment and exportation. The program focuses around eight main goals that represent the technological and industrial challenges facing French society by 2030.

It takes place in three phases: start-up, risk reduction, and development. Companies can compete independently and sequentially for each of the phases.

More information at www.entreprises.gouv.fr/innovation-2030/home-innovation-2030?language=en-gb

About DEINOVE

DEINOVE (Alternext Paris: ALDEI) is ushering in a new era of green chemistry by designing and developing new standards of production based on bacteria of untapped potential: the Deinococci. Taking advantage of the bacteria’s unique genetic properties and unusual robustness, DEINOVE optimizes natural fermentation and metabolic capabilities of these bacterial "micro‐factories" to produce high value‐added products from non‐food biomass. The Company’s primary markets are 2nd‐generation biofuels (DEINOL) and bio‐based chemicals (DEINOCHEM). On these markets, the Company offers its technology to industrial partners globally.
Listed on NYSE Alternext since April 2010, DEINOVE was founded by Dr. Philippe Pouletty, General Partner of TRUFFLE CAPITAL, and Pr. Miroslav Radman, of the Faculty of Medicine of Paris Descartes University. The company employs almost 50 people in its new offices and laboratories located in Montpellier, France.

More information at www.deinove.com