Statoil Now Blending Inbicon's Cellulosic Ethanol for Danish Drivers

FREDERICIA, Denmark, November 4, 2010 - As Statoil rolls out a 5% ethanol blend at 100 selected petrol stations
across Denmark, Inbicon reported today that it has already begun supplying
Statoil with second-generation bioethanol made from wheat straw. Inbicon will
be the major supplier of The New Ethanol, as it calls its renewable fuel made
from various crop wastes.

"We are very pleased by Statoil's latest step in offering Danish
motorists a choice of cleaner, environmentally responsible fuels," says Niels
Henriksen, CEO of Inbicon. "And we are proud of the part we can play in
supplying fuel made from agricultural waste." The first delivery of
second-generation ethanol from Inbicon's plant to Statoil took place in
August, with Danish Minister for Climate and Energy, Lykke Friis,
participating.

In 2009, the two companies signed an agreement for Inbicon to supply
Statoil with the first five million liters of The New Ethanol produced by the
Kalundborg plant, where Inbicon's biomass conversion technology is being
demonstrated. "With the launch of Bio95 2G we have reached yet another
milestone. This is the only gasoline in the market with second generation
bioethanol developed and produced in Denmark from Danish straw," says Statoil
CEO Pia Bach Henriksen.

The Inbicon Biomass Refinery in Kalundborg opened in November 2009 and
has since proven its process at near-commercial scale. The plant can convert
4 metric tons of straw per hour, equivalent to 30,000 metric tons a year.
From this 5.4 million liters (1.5 million gallons) of The New Ethanol can be
produced a year, along with two other clean, green energy streams.

"We're producing not only The New Ethanol to replace gasoline, but also a
clean lignin biofuel to replace coal," says Inbicon CEO Henriksen. "Just as
important as our renewable energy products is our renewable energy process.
The Inbicon Biomass Refinery can demonstrate dramatically improved
efficiencies when integrated with a coal-fired power station, grain-ethanol
plant, or any CHP (combined heat and power) operation. Symbiotic energy
exchange helps our customers build sustainable, carbon-neutral businesses."

Inbicon is currently working with clients in planning commercial
facilities for North America and Asia.

About Statoil

Statoil supplies around one fifth of Denmark's total oil consumption and
operates more than 300 petrol stations in Denmark, including approx. one
fifth automat stations under the 1-2-3 brand. The company's Kalundborg
refinery refines oil products, which are either exported or sold in Denmark
for use as, for example, transportation fuel or heating oil for private home
and commercial property.

About Inbicon

Inbicon A/S is a pioneer in biomass conversion technology, headquartered
in Fredericia, Denmark. It has proven its process at pilot plant scale since
2003 and is presently demonstrating it at commercial scale in Kalundborg.
When commercialized for North America and Asia, the Inbicon Biomass Refinery
will convert three clean energy streams into profitable, sustainable,
renewable businesses. Inbicon is a subsidiary of DONG Energy A/S. For
information, go to www.inbicon.com or contact Christian Morgen,
chrmo@inbicon.com.

Thomas Corle, +1-717-314-5729, tcorle at ptd.net