Renewable Energy Stock Alert: Codexis (CDXS) Gains 27% on news of scale-up of cellulosic sugars from non-food biomass
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New York, NY - June 14, 2013 (www.investorideas.com newswire) Investorideas.com, an investor research portal specializing in sector research for independent investors, including biotech and renewable energy stocks issues a trading alert for Codexis, Inc. (NasdaqGS :CDXS), a developer of engineered enzymes for pharmaceutical, biofuel and chemical production. The stock made big moves on news today, currently trading at $2.76, gaining $ 0.59 or (27.19% as 2:01PM EDT on over 1.3 Million shares.
The Company reported today that Codexis and Chemtex, a leader in chemical engineering and renewable processes, today announced the successful scale-up in the production of CodeXol® detergent alcohols using cellulosic sugars. The scale-up was achieved at a 1,500 liter demonstration facility at Chemtex’s R&D complex in Tortona, Italy and is a key milestone in the ongoing effort initiated by the two companies to develop a fully integrated biomass to detergent alcohols technology. A combination of Chemtex’s commercially proven PROESA® cellulosic sugar technology and Codexis’ CodeXyme® 4X cellulase enzymes was used to produce cellulosic sugars from non-food biomass, while the CodeXol® detergent alcohol fermentation process technology – which includes Codexis’ proprietary microorganism strain – converted these cellulosic sugars to detergent alcohols.
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