In Taurus Energy’s newly published investment memorandum (IM) as well as in the so-called teaser the following information is published in cooperation with Lallemand Biofuels and Distilled Spritis (LBDs) and Sweetwater Energy in New York:
“Taurus together with Lallemand Biofuels and Distilled Spirits has signed a Letter Of Intent (LOI) with Sweetwater Energy in New York, USA, on the intention of the parties to reach a commercial agreement for the supply of XyloFerm® to Sweetwater.”
Taurus Energy already has ongoing cooperation with Sweetwater Energy and now Lallemand BDS has entered the collaboration. The Letter Of Intent defines the common objectives and facilitates collaboration and information exchange between all three parties in the work to adapt the companies’ technologies to each other. No order values or time frames are specified and it is still too early to say when a deal might happen.
Taurus Energy does not usually share names of the companies that the company is negotiating with, but in this case the discussion that led to the LOI had become known and the Board felt that we had to inform all shareholders about this in the IM for the upcoming rights issue.
About Sweetwater Energy, Inc.
Sweetwater Energy uses a unique technology to convert low-cost plant materials to a variety of high-value biochemicals. Waste wood, agricultural residues, and purpose-grown crops such as switchgrass have been economically treated in Sweetwater’s demonstration plant in Rochester, NY. The valuable sugar locked inside these plants is extracted and converted into dozens of biochemicals, many of which have traditionally required much more expensive methods to manufacture.For more information, please visit http://www.sweetwater.
Media Contact: Sharon Samjitsingh, Project Manager, 585-794-5210
About Lallemand Biofuels & Distilled Spirits
Lallemand Biofuels & Distilled Spirits (LBDS) is a business unit of the Canadian yeast and bacteria producer Lallemand, Inc. Based in Duluth, GA, Lallemand Biofuels & Distilled Spirits is a leading supplier of fermentation ingredients and value creating services to the global fuel ethanol and distilled beverage industries.
For more information, please visit www.lallemandbds.com