|Post IPO Valuation|
|Debt, 8/2013 ||$12.5M|
The Lignol delignification process was first developed by General Electric Corp. in the early 1970s to produce ethanol and organosolv lignin to be used as a clean burning gas turbine fuel. The process was subsequently applied to the pulp and paper industry, commercialized by Repap Enterprises between 1987 and 1997 to generate wood pulp. Repap refocused the Alcell delignification process as a pulping process in which lignin was removed, and following bleaching, produced a 100% cellulose/hemicellulose wood pulp. Dr. Kendall Pye, a founder and director of Lignol, was for 16 years President and CEO of Repap Technologies Inc. and Vice-President, Science and Technology of Repap Enterprises Inc. where he was responsible for the technical development of the Alcell process. In total, General Electric and Repap spent over $100 million developing the technology.