Clermont-Ferrand, 28 July 2017 –METabolic EXplorer (METEX), an industrial biochemical company specializing in the development and industrial application of green and sustainable biochemical processes, today published its financial data for the second quarter of 2017.
In the second quarter of 2017, METabolic EXplorer posted net sales of nearly €1.0 million from contractual revenues received under the agreement with Finnish group UPM on development of a process for making MPG from second-generation cellulosic sugars, and from a technology transfer service agreement with Evonik on sale of L-methionine/inoLa™ technology in November 2016. Revenues for the first half of 2017 amounted to €2.0 million, compared with €0.9 million at the end of the first six months of 2016.
At 30 June 2017, the company’s gross cash position under IFRS standards stood at €39.2 million (compared with €41.8 million at 31 December 2016) and the net cash position was €32.7 million (compared with €34.9 million at 31 December 2016).
This amount includes a €0.5 million payment corresponding to a step grant received from Bio Based Industries Joint Undertaking* as part of the collaborative project “Valchem” for MPG development process.
This cash position as at June 30, 2017 does not include an amount of €1.5 million received at the beginning of July, corresponding to the refund of the research tax credit (CIR) minus the corporate tax payment due for fiscal year 2016.
*BBI-JU: a new €3.7 billion public-private partnership between the European Union and the Bio-based Industries Consortium (BIC) aiming at increasing investment in the development of a sustainable bio-based industry sector in Europe.
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About METabolic EXplorer – www.metabolic-explorer.com
A pioneer in industrial biochemistry with some 20 years of experience, METabolic EXplorer (METEX) develops alternative solutions to the petrochemical processes used in manufacturing.
Using renewable raw materials, it develops innovative industrial fermentation processes to produce chemical compounds used in basic products of everyday life such as animal nutrition and health additives, plastics, textiles, cosmetics, and resins, among many others.
The company’s ambition with its biotechnological innovations is to produce consumer goods in a different way, without oil, in order to meet environmental challenges and consumers’ new societal expectations.
To create these innovative processes, METabolic EXplorer relies on a 70-person staff possessing the complementary competencies essential at every step of their development, from the optimisation of strains in the laboratory to the pilot-scale production of samples.
Based at the Clermont Limagne technology park, on the outskirts of Clermont-Ferrand, METabolic Explorer is listed on Euronext in Paris (Compartment C, METEX) and is included in the CAC Small Index.
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