Verenium Licenses Novel Enzyme to Bunge for the Production of Edible Oil Products

Under the terms of the agreement, Verenium is responsible for the discovery and optimization of novel enzymes for the production of edible oil products with enhanced nutritional profiles.

Oct 13 2010 --- Verenium Corporation, a pioneer in the development and commercialization of high-performance industrial enzyme solutions, announced that it has licensed a new enzyme for use in the production of edible oil products to Bunge Oils, Inc., a part of Bunge North America, the North American operating arm of Bunge Limited. This high-performance lipase enzyme was developed as part of a research and development agreement with Bunge Oils. Commercial launch of the enzyme product is pending appropriate regulatory approvals in target markets.

"We are very pleased to have successfully leveraged our unique discovery and evolution technology to develop an enzyme that can be used to commercialize new edible oil products," said Janet Roemer, Verenium's President and Chief Operating Officer. "This achievement further demonstrates Verenium's ability to develop innovative enzyme solutions that can meet important market demands. The continuing success of our partnership with Bunge has been based on strong synergies and open collaboration. We look forward to the further joint development of this exciting opportunity."

Under the terms of the agreement, Verenium is responsible for the discovery and optimization of novel enzymes for the production of edible oil products with enhanced nutritional profiles. Bunge intends to use the enzymes to commercialize edible oil products such as bottled vegetable and cooking oils, shortenings, margarines and other products derived from soybeans, other oilseed plants and corn.

"The demand for oil products with a better nutritional profile is strong and continues to grow," said Rodney Perry, Vice President and General Manager of Bunge Oils. "As the world's largest oilseed processor, Bunge relies on cutting-edge technology in order to effectively serve our customers' needs. Our strategic partnership with Verenium will help us continue to bring innovative products to market."