OPX Biotechnologies Named Colorado's "Breakout Cleantech Company of the Year"
Award Honors Leadership in Advancing Colorado's Cleantech Industry
BOULDER, Colo., Nov. 8, 2011 -- OPX Biotechnologies Inc. (OPXBIO) – a Boulder company that engineers microbes to create biochemicals that are cost-competitive with traditional petroleum-based products – was named the "Breakout Cleantech Company of the Year" by the Colorado Cleantech Industry Association (CCIA). The "Breakout Cleantech Company of the Year" award was one of seven awards presented by the CCIA at its Colorado Cleantech Awards Celebration on Nov. 7 at the Grand Hyatt in Denver.
"Truly innovative cleantech companies do more than invent green technologies, they ensure those technologies make financial sense for their customers," said Christine Shapard, executive director of the CCIA. "Over the last year, OPX Biotechnologies has taken great steps to prove it has an emerging technology that not only makes sense for the environment, but also makes financial sense for business. That combination truly advances clean technology innovation and Colorado's competitiveness."
OPXBIO's ability to meet key milestones has been crucial in attracting private investment and government funding since being founded in 2007 as a technology spin-out from the University of Colorado - Boulder. The company recently raised $41.2 million in its C-Round private equity financing. This financing will enable the company to accelerate development and commercialization of an industrial-scale process to produce its first renewable chemical, BioAcrylic, with its strategic partner The Dow Chemical Company.
Using its proprietary EDGE™ (Efficiency Directed Genome Engineering) technology, OPXBIO manufactures renewable, bio-based chemicals and fuels that are lower cost, higher return, and more sustainable than existing petroleum-based products. With unprecedented speed and capital efficiency, OPXBIO has developed and piloted the microbe and bioprocess that will produce BioAcrylic at 25-percent lower cost and a 75-percent reduction in greenhouse gas emissions than petroleum-based acrylic.
"Since our founding, the OPXBIO team has been focused on building a real company, which means offering a real product that is valued by real customers," said Charles R. (Chas) Eggert. "Having real customers depends on demonstrating positive impact on financial performance while also delivering a more environmentally beneficial solution. It is an honor to be recognized by CCIA for driving sustainable transformation of the industry and for contributing to economic development and job growth in Colorado's cleantech sector."
OPXBIO uses its proprietary leading EDGE™ (Efficiency Directed Genome Engineering) technology to manufacture renewable bio-based chemicals and fuels that are lower cost, higher return, and more sustainable than existing petro-based products. With unprecedented speed and capital efficiency, in just 18 months OPXBIO has developed and piloted the microbe and bioprocess that will produce its first renewable chemical product - BioAcrylic - at lower cost than petro-acrylic with a 75% reduction in greenhouse gas emissions. The company's second product is diesel fuel bio-processed from carbon dioxide and hydrogen. OPXBIO has raised $64 million with venture investors Altira Group, Braemar Energy Ventures, DBL Investors, Mohr Davidow Ventures, US Renewables Group, Wolfenson Capital Partners, and X/Seed Capital.
For more information, visit www.opxbio.com.
About the Colorado Cleantech Industry Association
The Colorado Cleantech Industry Association (CCIA) represents the interests of the state's cleantech industry. Its mission is to further establish Colorado as a world leader in clean technology by providing representation and advocacy, a unified voice, relevant programming and capacity development.
For more information, visit http://www.coloradocleantech.com.