BIC working with Biobased Delta on sustainable tech.

May 16, 2014, Sarnia, Ont. – Bioindustrial Innovation Canada
(BIC) has agreed to work closely with Southern Netherlands-based Biobased Delta
Foundation to accelerate the international commercialization of advanced new
technologies.

“This is an exciting opportunity as we move forward in
catalyzing the commercialization of biobased and sustainable chemistry-based
technologies, creating jobs and economic value for Canada,” said Dr. Murray
McLaughlin, executive director of BIC. “It recognizes the key elements of the
innovation strategies of the Canadian and Dutch governments, including the
concept of regional innovation clusters and development of sustainable chemistry
technology platforms.”

A formal Memorandum of Understanding (MOU) between BIC and
Biobased Delta calls for collaboration on such areas as pyrolysis, chemicals
from sugars and lignin-based materials. The MOU, effective May 14, 2014 and
signed at the BIO World Congress on Industrial Biotechnology held in
Philadelphia, PA, extends for a three-year period.

"We very much welcome our partnership with BIC,
primarily in order to collaborate on joint promising biobased business
opportunities", said Dr. Willem Sederel, managing director of Biobased
Delta. "Our core values of entrepreneurship, innovation, inclusiveness  and pragmatism fit perfectly with the
ambitions of BIC. We are looking forward to a fruitful cooperation."

Relationships between industrial, academic or governmental
organizations will be established in order to initiate joint projects in
research, development, demonstration or commercial partnering. BIC and Biobased
Delta will support the initiation of these projects and acquisition of private
and/or public funds to finance the projects.

This collaboration will also contribute to building enablers
for scientific community development. It includes sharing of knowledge and best
practices, organizing seminars and scientific conferences, attracting and developing
of young talent, development of joint educational programs in the field of
novel biobased processes and products and wide communication of scientific
results.