Verenium Launches Second Enzyme Product for Oilfield Services -- VEREFLOW™ alpha-amylase sustainably improves the efficiency and economics of filter cake removal in well completions --
SAN DIEGO, Jan. 5, 2012 /PRNewswire/ -- Verenium Corporation (Nasdaq: VRNM), a leading industrial biotechnology company focused on the development and commercialization of high-performance enzymes, today announced the introduction of VEREFLOW™ alpha-amylase, a unique enzyme for the removal of filter cake in drilling operations. This high performance enzyme effectively removes filter cake that acts as a barrier to hydrocarbon flow on the face of the wellbore, the hole drilled in the creation of a well. Effective over a wide temperature and pH range and with a safer environmental footprint compared to traditional chemicals often used in the process, VEREFLOW™ alpha-amylase provides the oilfield services industry greater operational flexibility.
"We are pleased to be expanding our offering in the oilfield services market to offer another high-performance enzyme product with a superior environmental profile – a key advantage to operators in this industry," said James Levine, President and Chief Executive Officer at Verenium.
Verenium estimates the addressable global market for VEREFLOW™ alpha-amylase in the United States to be approximately $20 million annually. The Company began marketing and selling VEREFLOW™ alpha-amylase in the first quarter of 2012 and manufactures the enzyme under its agreement with Fermic S.A. de C.V in Mexico City.
About VEREFLOW™ Alpha-Amylase
VEREFLOW™ alpha-amylase is a high performance enzyme designed to break down filter-cake created by water-based mud containing starch and other polymers used in drilling operations. VEREFLOW™ alpha-amylase has been shown to be effective over an exceptionally wide temperature and pH range providing greater operational flexibility without a loss in productivity through the normal variability of downhole conditions during wellbore clean up. VEREFLOW™ alpha-amylase, compared to traditional chemicals used in the key drilling process of reservoir cleanup, is safe for both operators and the environment.
Verenium, an industrial biotechnology company, is a global leader in developing high-performance enzymes. Verenium's tailored enzymes are environmentally friendly, making products and processes greener and more cost-effective for industries, including the global food and fuel markets. Read more at www.verenium.com.
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SOURCE Verenium Corporation