BIOeCON Raises 1 Million Euros for a Biomass Based Fuel Cell

HOEVELAKEN, The Netherlands, April 12, 2011 - BIOeCON [www.bioecon.com] a leading pioneer in the field of
non-edible biomass conversion, has raised an additional 1 million Euros from
existing shareholders, including a grant from the Dutch Ministry of Economic
affairs, to design and build a prototype of a fuel cell which can convert
cellulosic biomass directly into electricity.

This concept, code-named BiCEPS (Biomass Conversion to Electrical Power
Systems), has been under development in cooperation with the Eindhoven
University of Technology in the group of Prof. emeritus Rutger van Santen who
recently was succeeded by Prof. Emiel Hensen. The fuel cell prototype will be
built by a team led by Dr. Hans Heinerman, BIOeCON's business development
director.

This is BIOeCON's third breakthrough technology since its formation early
in 2006: In 2007 BIOeCON formed a joint venture called KiOR [
www.kior.com] financed by Khosla Ventures to develop and commercialize
Biomass Catalytic Cracking (BCC) a process in which biomass waste can be
converted into transportation fuels. KiOR, located in Houston Texas, has
progressed into the demonstration phase with a first commercial plant now
under construction in Mississippi.

In 2009 BIOeCON and PETROBRAS SA entered into a joint development
agreement to scale-up and commercialize a process called BiCHEM in which
cellulosic biomass is converted into platform chemicals suitable for polymers
and/or fuel additives. An international research group led by Prof. emeritus
Jacob Moulijn has been established at the High Tech Campus in Eindhoven to
demonstrate BiCHEM on a pilot scale.

BIOeCON can be reached at: contact at bio-e-con.com, +31(0)33-2540473, Mister Sasa Marinic