Global Bioenergies completes private placement of approximately €10.25M

By mmillikin Global Bioenergies, the developer of a process to convert renewable resources into hydrocarbons through fermentation, has completed a private placement with qualified French and international investors. The Company has placed 640,00 new shares of a nominal unit value of €0.05, at a unit price of €16.00, inclusive of the share premium, for a total amount of approximately €10.25 million (US$11.7 million), representing 17.48% of the company’s share capital.

The proceeds will be used to complete the development and the industrialisation of the isobutene process, finance the detailed engineering studies of the IBN-One plant, launch the commercial roll-out and further diversify the

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