California Energy Commission Grants Funds to Kiverdi for Using CO₂ to Develop Highvalue Chemicals

BERKELEY, California -- Kiverdi, Inc., a privately held, advanced sustainable oil and chemicals company, was awarded a $747,126 grant from the California Energy Commissions Research, Demonstration, and Development program for its efforts to develop beneficial uses of carbon dioxide (CO₂). Kiverdi also announces that it was selected by a competitive peer-review process to become an Industrial User at the Molecular Foundry, where Kiverdi has access to world-class, state-of-the-art facilities and services.

"The California Energy Commission applauds Kiverdis pioneering technology to capture and convert waste carbon dioxide at power plants," said Commission Chair, Dr. Robert Weisenmiller. "This project will aid California in achieving its greenhouse gas emissions reduction goals, while producing high value oils for consumers."

"Public backing in California is an essential ingredient that will help innovators like Kiverdi make a global impact in the quest to cost effectively move beyond a fossil fuels-based economy. This grant will help us accelerate the development of our waste carbon conversion platform technology," said Kiverdi CEO Lisa Dyson, Ph.D. "We are very much appreciative of the financial support and technical validation we have received from the California Energy Commission."

The Global Warming Solutions Act of 2006 (AB 32) requires California to reduce its greenhouse gas emissions to 1990 levels by 2020. This project supports the reduction of greenhouse gases by researching into the potential of CO₂ as a raw material for the creation of useful products or the delivery of useful services. Proposals were scored based on factors such as the projects scientific value, the research teams demonstrated expertise and ability, and the cost merits of the proposal.

Kiverdis proprietary Carbon Engineering Platform transforms carbon from industrial flue gases into highvalue oils and chemicals, including palm oil and palm kernel oil replacements. Kiverdi is addressing the growing demand for cost-competitive, sustainably sourced products that have a low-carbon footprint and do not rely upon diverted food crops.

Kiverdi also announced that it won the opportunity, by a competitive peer-review process, to be an Industrial User at the U.S. Department of Energys Molecular Foundry, which is located at the Lawrence Berkeley National Laboratory. At the Molecular Foundry, Kiverdi has access to state-of-the-art facilities and top-quality researchers at no cost. In addition, Kiverdi has relocated its corporate headquarters from San Francisco to Berkeley, California. Kiverdi remains a member of the QB3 Innovation Network.

About Kiverdi

Kiverdi is a privately held, advanced sustainable oil and chemicals company commercializing disruptive, drop-in replacements to oleochemicals and petrochemicals. Kiverdi has developed a proprietary bioprocessing platform that converts low-cost waste carbon into high-value chemicals. Kiverdi is focusing its initial commercialization efforts on the $24 billon global surfactant market. Kiverdis technology also makes chemicals that can be used in biomaterials or as additives in fuel. Kiverdis Carbon Engineering Platform is the cornerstone of the companys innovative strategy. Kiverdis proprietary microbes are rich oil producers and able to recycle carbon from industrial flue gases or gasified carbon waste into a diverse range of chemicals at a fraction of the cost of current and emerging technologies. Founded in 2008, Kiverdi is the recipient of a number of awards, including the 2012 Sustainable Biofuels Award for "Leader in Bio-based Chemical Industry."

About the California Energy Commission

The California Energy Commissions Research, Development, and Demonstration program supports public interest research and development that helps improve the quality of life in California by bringing environmentally safe, reliable, and affordable energy services and products to the marketplace.

About the U.S. Department of Energys Molecular Foundry

The Molecular Foundry was founded in 2006 by the U.S. Department of Energy (DOE) as part of the DOEs National Nanotechnology Initiative, a multi-agency framework designed to improve human health, economic well-being and national security through leadership in nanotechnology. The Molecular Foundry provides outside researchers ("Users") with the instrumentation, in-house expertise and multidisciplinary environment necessary to pursue research that can benefit from or contribute to nanoscience. Scientists from all over the world utilize the Foundrys state-of-the-art facilities at no cost, advancing research in critical fields in medicine, energy, computing and many other disciplines. Researchers are chosen through a peer reviewed proposal process that occurs twice each year. Proposals are selected that show the most promise and potential to best benefit from the Foundrys equipment, capabilities and expertise.