Mtech Press Releases
FOR IMMEDIATE RELEASE
March 03, 2009
Zymetis Inc. Named Top 50 “Cleantech/Greentech” Company
COLLEGE PARK, Md.—Zymetis Inc., a biotechnology company focused on the cost-effective production of biofuels and other biorefined products, today announces it was named a 2009 GoingGreen East Top 50 Private Company, honoring the best “cleantech” and “greentech” companies in the Eastern U.S. and Canada.
The GoingGreen East Top 50 Private Companies award is given to emerging companies creating new green technology businesses. The top 50 list was compiled through surveys with more than 300 venture investors, investment bankers and technology insiders, who nominated more than 500 companies.
Zymetis was selected based on demonstration of growth, market opportunity, quality of innovation and customer traction.
“We are excited and flattered,” says Scott Laughlin, CEO of Zymetis. “We are just coming out of our stealth development phase. To be placed alongside companies that have already raised tens of millions of investment dollars is quite an honor and a validation of the uniqueness and the tremendous commercial opportunity of our solution for clean and affordable transportation fuel.”
Zymetis was formed just two years ago to capitalize on the novel digestive capabilities of a rare marine bacterium.
“The GoingGreen East 50 companies have demonstrated their tenacity even in the toughest economic conditions that the technology world has ever encountered,” says Tony Perkins, founder and editor of AlwaysOn. “We applaud their success in pushing the boundaries of innovation, creating market opportunities and transforming the industry even in the earlier stages of their businesses.”
Zymetis and the other GoingGreen East 50 Award winners will be recognized at the GoingGreen East Conference in Boston, Mass., on March 9-11.
The company also won a 2008 Maryland Incubator Company of the Year Award in the Best Technology Transfer Company category.
Zymetis is a company in the Maryland Technology Enterprise Institute (Mtech) Technology Advancement Program, a leading venture incubator at the University of Maryland that partners with regional entrepreneurs to build early-stage companies.
The company's technology was developed by University of Maryland Life Sciences Professors Steve Hutcheson and Ron Weiner. Hutcheson founded the company, which graduated from Mtech's VentureAccelerator Program in January, 2008.
Zymetis has received two Maryland Industrial Partnerships research project awards, for a total of $227K. The company scaled its product up using Mtech's Bioprocess Scale-Up Facility.
About Zymetis (www.zymetis.com)
Zymetis, Inc. is a biotechnology company focused on the cost-effective production of biofuels and other biorefined products. Derived from a unique organism, Zymetis's nano-scale bioreactor technologies are designed to achieve lower costs, improved yields and higher manufacturing efficiencies in the conversion of cellulosic biomass to usable sugars. Currently, Zymetis is focused on the production of affordable next-generation transportation fuels.
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