Deinove shelves Deinol program, refocuses efforts

By Erin Voegele | October 11, 2016

France-based Deinove recently released financial results for the first half of 2016, announcing plans to shelve its advanced biofuel business and refocus its efforts on antibiotics and carotenoids in nutrition and cosmetics. The company cited low oil prices, the disengagement of industrial actors in the sector and a lack of government support as a reasons for its decision.

Deinove also noted that Abengoa, the main industrial player in its Deinol program, began bankruptcy procedures in November 2015 and is selling its biofuel assets. In addition, the company cited delays in the scale-up of second-generation biofuel technologies. “Industrial development of biofuel is suspended until a potential change of the biofuels market context,” Deinove said in its financial statement.

According to Deinove, the Deinol program, which was focused on biofuels, achieved several accomplishments. Under the program, the Deinove team was able to select and optimize a Deinococcus bacterial chassis adopted to industrial production constraints and establish a strain able to produce ethanol by hydrolysis and fermentation of various vegetable raw materials. The team also produced ethanol with an alcohol content of 9 percent wt/v (7.3 percent v/v) in a 300-liter-fermenttor from a mix of C5 and C6 sugars and improved the strain’s tolerance to inhibitors common to second-generation substrates.

Deinove reported total operating revenues of €208,000 ($229,902) for the first half of 2016, up from €69,000 during the same period of 2015. Operating loss was €4.136 million, compared to an operating loss of €3,990 million during the same period of last year. Loss for the first half of the year was €3.141 million, compared to a loss of €3.17 million during the same half of 2015.