Grand Opening Celebration With State and Local Officials
- Enterprise Florida, Florida Opportunity Fund and Florida State House Representative Tour New Demonstration Plant
- Okeechobee, Fla. Plant Expected to Begin Production in the Third Quarter of 2012
SOUTH SAN FRANCISCO, Calif., June 12, 2012 (GLOBE NEWSWIRE) -- LS9, Inc., a technology leader in the development of renewable and sustainable products, officially opened the Company's demonstration facility today in Okeechobee, Fla. LS9 completed the retrofit of the demonstration facility in May of this year and large-scale production from the plant is expected in the third quarter of 2012. Initially, the facility will be used to enhance the Company's production capability and generate large commercial samples for testing and product qualification by key partners and prospective customers. The facility will also be used to test and optimize new process conditions.
Multimedia accompanying this release is available at http://www.globenewswire.com/mpr/ls9/?d=259041
"The opening of our demonstration plant in Florida moves LS9 from a development company towards becoming a fully integrated commercial organization," said Ed Dineen, LS9 President and CEO. "Florida's strong agricultural resources will allow us to source locally grown feedstocks for testing and processing into renewable biofuels and biochemicals. We are grateful to those who attended our event today, and recognize that this would not have been possible without the support from Enterprise Florida, the Florida Opportunity Fund's Clean Energy Investment Program, and the community of Okeechobee that has gone above and beyond to welcome LS9 to the state."
The facility tours featured the 3,800 and 135,000 liter fermenters that will be used and are expected to produce approximately 75,000 gallons of product annually. The Company's single-step fermentation technology is simple and cost effective allowing LS9 to easily transition from production of one product to another, providing the flexibility to adapt to the needs of their customers and take advantage of the most economical feedstocks available. Participants were also shown samples of actual biodiesel that will be one of the first products produced at the plant.
Earlier this year, the Florida Opportunity Fund (FOF) Clean Energy Investment Program committed $4.5 million to help fund the retrofit of LS9's facility. The fund is one of the first of its kind in the nation for growing the State's clean energy sector. Louis Laubscher, Senior Vice President of Enterprise Florida and President of FOF, commented, "By directly investing in the development of renewable energy products, in manufacturers adapting new energy efficient technologies and in other clean-tech companies, the Florida Opportunity Fund can transform the state's energy profile and be a catalyst for attracting new capital to the State. LS9 was attractive to us as a California company with a track record of success, focused on sustainable products and looking for new markets; and, from what we have seen today, we expect LS9's new plant will be a prototype for this region."
"It's imperative that Florida fully supports the development and production of renewable energy and sustainable products, and we welcome LS9 to the great state of Florida as a proven leader in this area. Florida has significant agricultural resources which can be leveraged by companies like LS9 to continue to expand their capabilities in our state. This is a big win for agriculture, the environment, and the economy," concluded Steven M. Perman, Florida State Representative for House District 78 which includes Okeechobee.
About LS9, Inc.
LS9, Inc. is a technology leader in the commercial development of a growing portfolio of sustainable products to meet the needs of chemical and fuel markets worldwide. Its unique technology platform enables low costs, feedstock flexibility and process simplicity across a diversity of fermentation-derived products ranging from vehicle-ready fuels to chemicals for lubricants, detergents and personal care products. In June 2010, LS9 was awarded the U.S. Environmental Protection Agency's highest environmental honor for its revolutionary technology. The company was founded in 2005 and is supported by funding from Flagship Ventures, Khosla Ventures, Lightspeed Venture Partners, Chevron Technology Ventures and BlackRock. LS9 is headquartered in South San Francisco, California, and further information can be found at www.ls9.com.
The LS9, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=10023
CONTACT: LS9 Company Contact: firstname.lastname@example.org LS9 Media Contact: Remy Bernarda IR Sense, LLC email@example.com (415) 203-6386
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