Biofuels start-up Deinove gets €6M OSEO grant

Grant

Deinove, a biotech start-up set up to commercialise processes for generating biofuels from cellulose biomass, has been awarded €6 million by the French state innovation agency OSEO (Strategic Industrial Innovation programme) as part of the DEINOL project.

The other partners in the project are a European company specialising in ethanol production, and two academic labs, the CPBS (CNRS/University of Montpellier 1) and the LISBP (INSA Toulouse/CNRS/INRA).

The goal of the €21.4 million DEINOL project is to open up new pathways for second generation cellulosic ethanol production that use existing production facilities without the need for huge additional investment.

Deinove’s approach is based on the exploitation of Deinococcus bacteria, which have exceptional resistance and the ability to digest and ferment biomass. The company aims to supplant the production of alcohol using S. cerevisiae (Brewer’s yeast).

In all, OSEO has awarded €8.9 million to the DEINOL project, of which €6 million will go to Deinove. “We are delighted that our project has met the OSEO’s standards for funding. The DEINOL project will place France at the forefront of the biofuel sector,” said Deinove CEO, Jacques Biton. “The €6 million funding will enable us to accelerate the development of new bioethanol production processes.”

Second-generation technologies involve the use of biocatalysts to break down the cellulose in biomass feedstocks including whole plants, forestry products and green waste.

Deinove was founded in 2006 by Truffle Capital and has so far raised €3.4 million in equity.