AKERMIN RAISES $10 MILLION IN SERIES B FINANCING ROUND

Funds Will Move Akermin Breakthrough Carbon Capture System Closer to Commercialization

Technology Lowers the Cost for Power Plants to Reduce Emissions of Greenhouse Gases

ST. LOUIS (January 26, 2010) Akermin, Inc. today announced it has closed a $10 million Series B financing round.   Akermin will use the new funds to develop and bring to market its transformational carbon capture system for large industrial applications such as power plant flue gas.

U.S. power plants alone emit 2.5 billion tons of CO₂ each year.  Existing technologies which can reduce a plant's greenhouse gas emissions by up to 90%, called carbon capture and sequestration (CCS), are expensive and would substantially increase the cost of electricity. 

Using Akermin's patented enzyme immobilization and stabilization polymer technology, this new carbon capture system will result in a more energy efficient and lower cost carbon dioxide capture process.  Akermin's technology could potentially cut the cost of CCS by more than half, thus removing the significant economic obstacles in the rapidly developing multi-billion dollar CCS market.  In addition, the captured carbon can be put to work in a variety of potential uses including enabling algae growth in biofuel production, enhanced oil and natural gas recovery, and developing renewable feedstock for the production of materials and chemicals.

This new equity round was led by the Malaysian Life Sciences Capital Fund, co-managed by Burrill & Company, with participation from Emerson Ventures, a subsidiary of Emerson.  Additionally all of the company's current Series A investors continued their strong support by participating as well.  These include Chrysalix Energy, Prolog Ventures, OnPoint Technologies, and members of the St. Louis Arch Angels.

"We are pleased that Akermin has received the endorsement of a leading life science venture fund and one of America's premier industrial corporations," said Greg Johnson, managing director of Prolog Ventures and a member of the Akermin Board of Directors.  "Akermin grew out of research performed at Saint Louis University and is now adding to St. Louis' growing base of activity in the greentech arena."

This new CCS process is made possible by Akermin's proprietary breakthrough in biocatalysis, the ability to effectively stabilize enzymes.  Founded in 2004, Akermin initially validated this enzyme stabilization technology by building low power, long life biofuel cells, primarily for military and industrial applications. 

Additionally, Akermin announced that Ganesh Kishore, Ph.D, CEO of the Malaysian Life Sciences Capital Fund, and Randall D. Ledford, Ph.D, Senior Vice President and Chief Technology Officer of Emerson will join the Board of Directors. "We are very pleased to join Akermin at this stage in its development," said Ganesh Kishore.  "Carbon Dioxide Capture, Sequestration and Transformation create both extraordinary challenges and opportunities for our global society.  We are excited about the prospects of Akermin in addressing these societal and business needs while developing technology via higher-end business applications."

About Akermin, Inc.

Akermin, Inc. is currently focused on using its enzyme immobilization technology to develop a more efficient and less expensive carbon capture system that will help large industrial applications such as power plants cut carbon emissions.  Akermin's proprietary breakthrough in the polymer encapsulation of enzymes can lead to lower cost and more environmentally friendly processes in many multi-billion markets for enzyme-enabled products and processes.  For more information, visit www.akermin.com.

About Burrill & Company

Burrill & Company is a life sciences merchant bank focused exclusively on companies involved in biotechnology, industrial (biomaterials/bioprocess) and agricultural biotechnology, pharmaceuticals, health & wellness and human healthcare related medical technologies, with over $950 million in venture capital under management. Burrill's technical and venture investing competence spans the entire spectrum of life sciences. In addition, Burrill is a leader in life science strategic partnering, an invaluable practice to build value in portfolio companies and to accelerate their growth and development. Visit www.burrillandco.com.

About Malaysian Life Sciences Capital Fund

The Malaysian Life Sciences Capital Fund (MLSCF) is a life sciences venture fund specializing in early stage investments in agriculture, industrial and healthcare biotechnology. Co-managed by Malaysian Technology Development Corporation Sdn Bhd (MTDC) and Burrill & Company, the fund was founded in late 2006 and currently has USD150 million in committed capital. The fund invests globally in companies that can accelerate the development of the biotechnology industry in Malaysia.

About Emerson

Emerson (NYSE:EMR), based in St. Louis, Missouri (USA), is a global leader in bringing technology and engineering together to provide innovative solutions to customers through its network power, process management, industrial automation, climate technologies, and appliance and tools businesses.  Emerson's sales in fiscal 2009 were $20.9 billion.  The company is ranked 94th on the Fortune 500 list of America's largest companies.  For more information, visit www.Emerson.com.

About Chrysalix Energy

Chrysalix is a venture capital firm investing in technologies that will drive the new energy economy. The firm provides early stage financing, hands on assistance, and strategic connections to innovative companies confronting the world's most important energy and environmental issues. In the past few years, the firm has consistently ranked among the top most active clean energy venture capital firms in the world. The Chrysalix team has an exceptional track record in this still young industry. Collectively, it has over 100 years of experience in the energy industry and over 100 years in the venture capital business. The firm is backed by a strong group of blue-chip international industrial and financial Limited Partners, and is headquartered in Vancouver, British Columbia. For more information, visit www.chrysalix.com.

About Prolog Ventures

Prolog is a venture capital firm specializing in life science investing. Since its launch in 2001, Prolog has financed more than 20 companies, most of them early-stage.  The firm is managed by a team of professionals with extensive experience as both investors and entrepreneurs.  Prolog invests in traditional healthcare fields as well as emerging areas, such as wellness, plant science, and green technology.  For more information, visit www.prologventures.com.

About OnPoint Technologies

OnPoint is a strategic private equity investor with a mission to discover, invest in and support companies at the intersection of Army and commercial marketing needs. For more information, visit www.onpoint.us.