Mitsui and Inbicon Sign First Licensing Agreement to Refine Biomass Into Ethanol

FREDERICIA, Denmark, February 28, 2010 - Mitsui Engineering & Shipbuilding (MES), one of Japan's leading heavy
industries, and Inbicon, the Danish pioneer of cellulosic ethanol technology,
today announced the signing of a license agreement for the Inbicon Biomass
Refinery technology.

The agreement grants Mitsui the right to build a number of biomass
refineries in Southeast Asia using Inbicon's technology. Mitsui intends to
apply the technology in the palm oil industry, where wastes from palm oil
production can be converted into ethanol, solid biofuel for energy
production, and animal feed. The agreement marks the first sale of licensing
for Inbicon.

Shunichi Yamashita, Director of Mitsui, said: "With the agreement, we
have taken an important step towards the establishing of a plant engineering
business for the production of second-generation ethanol in Southeast Asia.
We have already committed considerable resources to the development of this
new business. Furthermore, we are expecting to expand the cooperation with
Inbicon into other markets."

Niels Henriksen, CEO of Inbicon, stated: "this is the culmination of our
year-long cooperation with MES, which started with our testing of palm waste
as feedstock. Throughout 2009 we developed the relationship between their
people and ours, and we are very proud to have MES as our first licensee.
Signing this agreement positions Mitsui as a frontrunner. We consider it a
significant step forward into a long-lasting collaboration."

"It's also an important milestone in the commercialization of Inbicon
technology. With the latest developments within enzyme technology from
leading enzyme suppliers such as Danisco Genencor and Novozymes, we are now
looking at making large-scale production of second-generation ethanol truly
practical in countries around the world."

Mitsui Engineering & Shipbuilding is one of the biggest and leading heavy
industries in Japan, headquartered in Tokyo. Its activities are not limited
to shipbuilding, but also include the environment, energy, production,
mechatronics, information, logistics, industrial plants, medical science, and
leisure sectors. www.mes.co.jp/english.

Inbicon A/S develops technology for conversion and refining of soft
ligno-cellulosic biomass into fuel, feed, and green chemistry products. The
company operated a pilot plant since 2003, and last December opened its first
Inbicon Biomass Refinery in Kalundborg, Denmark to demonstrate its
technology. The plant converts wheat straw into fuel ethanol, animal feed,
and lignin pellets for energy production. A subsidiary of DONG Energy A/S.
www.inbicon.com.

Thomas Corle, +1-717-626-0557, tcorle at biopowered.biz