HEERLEN, Netherlands, May 10, 2005 (PRIMEZONE) -- DSM Venturing, the corporate venturing unit of Dutch chemical specialties maker DSM, today announced that it has taken a share interest in ORYXE Energy International, based in Irvine, California (USA). ORYXE Energy develops solutions to meet the world's dual need for dependable fuel supplies and a cleaner environment. By focusing on cleaner-burning fossil fuels, the company has developed innovative additive technologies that significantly reduce toxic emissions from conventional and reformulated fossil fuels. This is especially important as it helps to comply with increasingly stricter environmental protection regulations.
Prior to this investment, DSM and ORYXE Energy already had a supply agreement. On an exclusive basis DSM provides the proprietary product Isomixtene, a key component of the ORYXE Energy additive. With the investment DSM also enters into a strategic relationship with ORYXE Energy to research and develop additive solutions, based on DSM's performance materials knowledge and ORYXE Energy's application experience in combustion. This will further strengthen DSM's reputation as a world leader in partnering with innovative companies to commercialize new products and applications.
Chris Goppelsroeder, member of DSM's Managing Board, explains: "We believe that ORYXE's markets can give a new dimension to the business of DSM. The cooperation will give DSM further insight in the potential of Isomixtene. Also, our contribution to a cleaner environment through less polluting fuel is another good example of how serious we take sustainable development at DSM."
ORYXE Energy is currently commercializing two diesel additive products and solutions for major oil refiners and producers and has additional products in the pipeline for gasoline, residual fuels, jet fuel and coal. The company's initial target markets include the states of Texas and California, which lead the United States in environmental regulation. In Texas, ORYXE Energy's Low Emission Diesel additive product (OR-LED) currently is the only additive solution to meet the new legislative standards.
Marc Schuler, General Manager DSM Venturing, highlights: "We are very pleased to further strengthen our portfolio of promising start-up companies with this equity investment and the attached Board position in ORYXE Energy. This investment will not only open new, innovative markets for DSM, we also expect to build a successful business with sizeable financial return."
Walther Schindler, Chairman and CEO of ORYXE Energy comments: "We welcome DSM as a value adding investor and strategic partner and believe we can realize significant synergies through this collaboration. This will further stimulate the growth and commercial success of ORYXE Energy."
DSM Venturing DSM Venturing, part of the DSM Venturing & Business Development business group, is an active investor in several Venture Capital Funds and start-up companies in DSM's strategic growth fields: Food Ingredients, Pharmaceutical Intermediates and Performance Materials. This is the eleventh direct investment of DSM Venturing. DSM Venturing's mission is to explore emerging markets and technologies in order to enhance DSM's product portfolio and create value. For more information about DSM Venturing see www.dsm-venturing.com.
ORYXE Energy
ORYXE Energy International, Inc., a venture capital-backed company based in Irvine, California (USA), develops, certifies and distributes proprietary additives that improve fuel performance and reduce toxic emissions from the combustion of hydrocarbons, such as diesel fuel and gasoline. Founded in 2001, ORYXE Energy was named a Top 100 Innovator by Red Herring magazine in late-2004. The company holds one U.S. patent and has ten patents pending. For more information about ORYXE Energy, visit www.oryxe-energy.com.
About DSM
DSM is active worldwide in life science products, performance materials and industrial chemicals. The group develops, produces and markets innovative products and services that are designed to raise the quality of life. DSM's products are used in a wide range of end-use markets and applications, including human and animal nutrition and health, cosmetics, pharmaceuticals, the automotive industry, coatings, the construction industry and the electrics & electronics market. The group has annual sales of around EUR 8 billion and employs about 24,000 people worldwide. DSM is a leading world player in many of the markets in which it operates and has plants and facilities on every continent. The company's head office is in the Netherlands. For more information on DSM, please visit www.dsm.com.
For more information:
DSM Corporate Communications DSM Venturing & Business
Medard Schoenmaeckers Development
tel. +31 (0) 45 5782421 Marc Schuler
fax +31 (0) 45 5740680 tel. +31 (0) 45 5783105
e-mail media.relations@dsm.com fax +31 (0) 45 5783102
e-mail info.venturing@dsm.com
Hill & Knowlton U.S.A. Athanasia Sfikas tel. +1 212 8850415 asfikas@hillandknowlton.com http://hugin.info/130663/R/993655/150253.pdf
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