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Attis Industries stock soars after deal to collaborate with Novozymes

Novozymes has committed to supplying the enzymes required by Attis to convert its pulp into sugar at all its planned biorefineries

A generic representation of business collaboration
Attis focuses on building businesses that play important roles in the new economy like renewable fuels, bio-based plastics and healthcare

Attis Industries Inc (NASDAQ:ATIS) shares soared Friday after the diversified innovation and technology company said it will collaborate with Novozymes (NASDAQ OXM), a provider of advanced biological solutions.

Under the newly announced partnership, Novozymes has committed to supplying the enzymes required by Milton, Georgia-based Attis Industries to convert its pulp into sugar at its planned biorefineries.

Attis stock shot up 14.6% to $0.27 in morning trade.

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Novozymes has a broad portfolio of biotechnology to support commercial cellulosic biofuels production, and the ability to ramp up production as needed in an effort to support Attis' ambitious growth plans.

Attis has successfully converted the pulp extracted from its patented biomass processing into high yields of sugar using Novozymes’ proprietary enzyme cocktails.  

These “positive results” have validated the planned business model at Attis' biorefineries, said the company.

Symbiotic partnership

"Attis is very excited about forming a partnership with Novozymes for the efficient production of ethanol at future biorefineries," said Attis Industries CEO Jeff Cosman. "Novozymes is the industry leader in biotechnology for the renewable fuel industry and brings with it unquestioned credibility to our renewable fuel goals."

The partnership will focus on improving value, yields, and process efficiencies. 

"Attis is very excited about forming a partnership with Novozymes for the efficient production of ethanol at future biorefineries," said Attis Industries CEO Jeff Cosman. "Novozymes is the industry leader in biotechnology for the renewable fuel industry and brings with it unquestioned credibility to our renewable fuel goals."

Attis Industries is a holding company focused on developing and building businesses that play important roles in the new economy, which include renewable fuels, bio-based plastics and healthcare.

Contact Uttara Choudhury at [email protected]

Follow her on Twitter@UttaraProactive 

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