JUPITER, Fla. and WAGENINGEN, The Netherlands, July 2, 2012 /PRNewswire/ -- Dyadic International, Inc. (OTC Pink: DYAI), a global biotechnology company focused on the discovery, development, manufacture and sale of enzymes and other proteins for the industrial enzyme, bioenergy, and biopharmaceutical industries, announced today that its research and development center in the Netherlands is a member of the Bio-Mimetic Project, a new multidisciplinary research consortium that has been awarded a EUR 3.5 million grant from the European Community's Seventh Framework Programme (FP7) of the European Community for Research, Technological Development and Demonstration Activities. The European consortium is commencing a three year research project entitled, "New Bio-Inspired Processes and Products from Renewable Feedstock" which will employ environmentally-friendly technologies to convert the renewable agricultural waste stream, lignin, into high value sustainable commercial products such as adhesives, detergents and cosmetics.
Wim van der Wilden, the General Manager of Dyadic Netherlands, stated, "We are very pleased to have the opportunity to work with such fine organizations on a highly innovative project where we can demonstrate the efficacy and productivity of our C1 technology to use green chemistry to find commercial applications for lignin. If successful, this project will be a promising step forward in using this renewable waste stream to replace traditional toxic, expensive and high energy consuming processes."
As part of the Bio-Mimetic Project, Dyadic Netherlands will receive approximately EUR 400,000 to develop enzymes using Dyadic's patented and proprietary C1 platform technology to degrade and modify lignin so that it can be used to create these high value commercial products.
Procter & Gamble Technical Centres Limited (P&G UK) will serve as the coordinator of the Bio-Mimetic Project Consortium which, in addition to Dyadic Netherlands, consists of the following participants:
-- Fraunhofer Institute IFAM (Germany) -- The University of Rome Tor Vergata (Italy) -- MAVI Sud s.r.l. (Italy) -- Gulgi B.V. (The Netherlands) -- Compagnie Industrielle de la Matiere Vegetale (CIMV)(France) -- Procter & Gamble Eurocor N.V. (P&G Brussels Innovation Centre)(Belgium) -- CiaoTech s.r.l (Italy) -- The University of Manchester (United Kingdom)
Dyadic International, Inc. is a global biotechnology company that uses its patented and proprietary technologies to conduct research, development and commercial activities for the discovery, development, manufacture and sale of enzymes and others proteins for the bioenergy, industrial enzyme and biopharmaceutical industries.
Dyadic utilizes an integrated technology platform based on its patented and proprietary C1 fungus which enables the development and large scale manufacture of low cost enzymes and other proteins for diverse market opportunities. The C1 platform technology can also be used to screen for the discovery of novel genes and proteins. Dyadic actively pursues licensing arrangements and other commercial opportunities to leverage the value of these technologies by providing its partners and collaborators with the benefits of manufacturing and/or utilizing the proteins which these technologies help produce. Please visit Dyadic's website at www.dyadic.com.
Dyadic Netherlands is a wholly owned subsidiary of Dyadic based in Wageningen, The Netherlands that conducts research and development activities for the benefit of Dyadic, its collaborators and customers. Please visit Dyadic Netherlands' website at www.dyadic.nl.
Cautionary Statement for Forward-Looking Statements
Certain statements contained in this press release are forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause Dyadic's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Except as required by law, Dyadic expressly disclaims any intent or obligation to update any forward-looking statements.
SOURCE Dyadic International, Inc.