Lignol reports Q1 financial results

By Erin Voegele | October 03, 2013

Lignol Energy Corp. has released its unaudited consolidated financial results for its first fiscal quarter of 2014, the three months ended July 31. The company reported an operating loss of $980,000, up slightly from the $960,000 loss reported for the same quarter of last year. 

In its quarterly release, Lignol said it is continuing to develop its technology platform to produce cellulosic ethanol, high-value cellulose and high purity lignin. According to the release, Lignol’s wholly owned subsidiary, Lignol Innovations Ltd., is developing a modified solvent-based pretreatment technology for the projection of ethanol and renewable chemicals that facilities the rapid conversion of cellulose into biochemical products, including high-purity HP-L lignin, which is engineered to meet the chemical properties and functional requirements of a range of industrial applications.

On Aug. 30, Lignol reported its financial results for its full 2013 fiscal year, noting that Lignol Innovations has competed the successful optimization of ethanol production with Novozymes and expanded its number of issued patents to 15. The wholly owned subsidiary also secured its first commercial supply agreement for HP-L lignin in the thermoplastics sector. 

Lignol has also invested in biodiesel production. The company owns a controlling equity stake in Australia-based Territory Biofuels Ltd. and owns shares of Australian Renewable Fuels Ltd.