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2006-09-21 News Release

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Biotechnology investment in Geobioreactors

BASF invests in new energy generation technology research activities in the fields of industrial biotechnology and energy management.

BASF Venture Capital America Inc., Fremont, CA, is investing $3 million in LUCA Technologies LLC, Golden, Colorado. LUCA develops biotechnology that uses microorganisms to reactivate or intensify the production of methane (natural gas) from finite fuels such as coal or oil.
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LUCA, which was founded in 2001 and has currently about 30 employees, employs genomics, molecular biology and other tools of biotechnology to detect, classify and study microorganisms - those that live without oxygen - that metabolize oil, shale and coal within the earth into natural gas. These methane production sites underground are described as "Geobioreactors*" by LUCA. The company wants to develop such Geobioreactors into massproduction methane farms, which will serve growing demand for this form of energy.

The biogenic creation of methane from a higher molecular weight hydrocarbon source is a multi-step process, most likely accomplished by a consortium of microorganisms acting together in a symbiotic fashion. Through a series of steps, various organisms in the consortium breakdown the large hydrocarbon molecules in coal or oil into intermediate, water-soluble compounds, which are then reduced to even smaller hydrocarbon molecules, and finally metabolized into methane by a group of organisms known as methanogens.

In order for a Geobioreactor to function, the appropriate environmental conditions must be present, including an abundant hydrocarbon substrate (such as a coal bed), a water-saturated environment, a complete absence of free oxygen, and the presence of the correct consortia of organisms.

Luca Technologies - The Science of Pure Energy. Click Go for High resolution image. photo: Luca

“We are excited that a leading international chemical company with the stature of BASF shares our vision of this future technology,” said Robert Pfeiffer, President and CEO of LUCA Technologies. “The new strategic partnership will accelerate product development to help meet the growing demands of a $150 billion United States domestic natural gas market.”

LUCA will use proceeds from the financing round to continue its research and development activities in the laboratory, and to support testing of the technology in coal beds either on its own or through partnerships with energy companies.

“LUCA’s technology fits well with BASF’s research activities in the fields of industrial biotechnology and energy management – two of our five growth clusters. In its research, BASF concentrates major technology-driven issues of particular relevance to the future in five growth clusters,” said Keith Gillard, Principal at BASF Venture Capital America.

In the white (industrial) biotechnology cluster, BASF is putting to work its wide-ranging expertise in enzyme catalysis and the fermentative production of amino acids and vitamins to generate new products and processes outside the existing main areas of interest of fine chemicals and intermediates. While in energy management, BASF's research scientists, for example, are working on new materials for organic solar cells, innovative storage media for hydrogen and the membrane electrode assembly of small portable fuel cells. The three other growth clusters are raw material change, nanotechnology and plant biotechnology.

Visit with Luca Technologies at the next scheduled event - October 3-5, 2006: 2006 Oil and Gas Investment Symposium West - 2006 OGIS West, The Palace Hotel, San Francisco, CA., presented by Independent Petroleum Association of America (IPAA).

* Geobioreactors is a registered trrademark of Luca Technologies LLC.

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