Funding
The greentech company Deinove, a specialist in the application of deinococci bacteria to biofuels and green chemistry, has announced that Tereos Internacional, one of the world's key stakeholders in sugar, starch and alcohol production, will invest €1 million in Deinove’s initial public offering.
Deinove says the investment confirms Tereos’ confidence and interest in its technology. At the end of March, the two companies signed a collaboration for the industrial production of ethanol via fermentation of feed grain by 2014. This forms part of the €21.4 million Deinol project which recently received €8.9 million in financial support from the French innovation agency Oséo's Strategic Industrial Innovation programme.
Deinove’s lead investor Truffle Capital has said it will subscribe for €2 million shares as part of the IPO.
Deinove’s Chairman Philippe Pouletty is to propose the appointment of Philippe Duval (President of the Management Board of Tereos) to the Board of Directors at the company’s next general shareholders’ meeting.
The Company announced the IPO on April 7. The prospectus can be viewed on the Deinove web site.
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