- Significant progress of the DEINOL programme, 9% (v/v) ethanol (world first) and the launch of testing in pre-industrial fermenters, enabled by increased R&D efforts in 2013;
- Strengthening of the DEINOCHEM programme with the financial support of the ADEME and the General Commissariat for investment totalling € 5.9 m and a new partnership with the VTT;
- A net loss of € 3.4 m for the year 2013 compared to a net loss of € 2.0 m for 2012. This difference is mainly explained by a 23 % increase in operating expenses, inevitable consequence of the progress of the DEINOL programme and the ambitious launch of DEINOCHEM, and in line with forecasts;
- An improved net financial position of the Company thanks to the issuance of new shares under the Paceo® programme and the first payment of € 1.5 m by the ADEME planned to be cashed by the end of the first quarter of 2014: DEINOVE now believes that its financial needs are covered until about mid-2015.
DEINOVE (Alternext Paris: ALDEI), a cleantech company that designs and develops new standards for industrial processes based on the exploitation of Deinococcus bacteria, today announced its financial results for the fiscal year ending December 31, 2013. These results reflect increased R&D efforts of the Company. The net result was a loss of € 3.4 m. Operating expenses increased by 23 % and the Research Tax Credit (RTC) amounted to € 1.9 m. Unlike 2012, the financial and exceptional results did not show significant credits in relation with one-time items.
With a net financial position of € +3.1 m at the end of 2013, compared to € +6.5 m at the end of 2012, the net cash consumption amounted to € 3.4 m. Since early 2014, the Company has cashed € 2.2 m following the issuance of new shares thanks to the Paceo® programme implemented in late 2013. Moreover, the first €1.5 m instalment from the ADEME for the DEINOCHEM programme is expected to be collected by the end of the first quarter of 2014.