Clermont-Ferrand, 14 November 2017 – METabolic EXplorer (METEX), an industrial biochemical company specializing in the development and industrial application of green and sustainable fermentation processes, today published its financial data for the third quarter of 2017.
In the third quarter of 2017, METabolic EXplorer posted net sales of €0.9 million. As in the previous quarters, these sales consist of:
As of 30 September 2017, the company’s gross cash position under IFRS standards stood at €38.9 million (compared with €39.2 million at 30 June 2017). METabolic EXplorer indicates that this amount of cash position, at 30 September 2017, includes an amount of €1.5 million received at the beginning of July and corresponding to the refund of the research tax credit (CIR) minus the corporate tax payment due for fiscal year 2016.
The cash at hand net of debt under IFRS standards amounted to €32.6 million at 30 September 2017 compared with €32.7million as of 30 June 2017.
Project for the construction of a PDO/AB production plant
On 12 May, the Company presented its new strategic development plan. It is based on the industrial application of its most advanced process, which is to be achieved by launching a project to construct a plant for the production of propanediol (PDO) and butyric acid (BA). In this way, METEX focused efforts on assessing the feasibility of constructing its own plant on an existing industrial site in France. The preliminary engineering studies and the arrangement of suitable financing are under way. The final investment decision is expected in late 2017 or early 2018.
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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