Verenium and VPP Sign Agreement to Test C5 Cellulosic Technology on Pulping Feedstocks for the Production of Ethanol

Verenium and VPP Sign Agreement to Test C5 Cellulosic Technology on Pulping
Feedstocks for the Production of Ethanol
--First step in creating new, adjacent market opportunity--

CAMBRIDGE, Mass., Oct. 21 /PRNewswire-FirstCall/ -- Verenium Corporation
(Nasdaq: VRNM), a pioneer in the development of next-generation cellulosic
ethanol and high-performance specialty enzymes, today announced that it has
entered into an agreement with Value Prior to Pulping (VPP), an organization
created by the Agenda 2020 Technology Alliance, a special project of the
American Forest and Paper Association, and CleanTech Partners, Inc., to test
the effectiveness of Verenium's C5 technology for the creation of cellulosic
ethanol from the hemicelluloses generated by the pulp and paper process,
creating higher value products without negatively impacting paper quality. VPP
is funded by the U.S. Department of Energy (DOE), the State of Wisconsin and
several large forest products companies.

"We are pleased to be partnering with VPP and enthusiastic for the opportunity
to explore the potential of our C5 technology to create biofuels from
feedstocks sourced from the pulping process," said Gregory Powers, Executive
Vice President of Research and Development of Verenium. "Integrating ethanol
production into the pulping process could create an attractive market
opportunity for Verenium and the pulping industry. If this project proves
successful, Verenium will be well positioned to enable this new source of
low-cost biofuels."

It is estimated that a typical 1500 ton-per-day kraft mill could produce
approximately 15 million gallons of ethanol annually. The total potential
market opportunity is estimated to be between 1.5 and 2 billion gallons of
ethanol per year.

"We believe these types of opportunities to 'bolt' our technology onto
existing industrial processes, where the feedstock sourcing, handling and
processing are already well-established, and are complementary to our core
biofuels strategy," said Carlos A. Riva, President and Chief Executive Officer
of Verenium.

About Verenium
Verenium Corporation is a leader in the development and commercialization of
cellulosic ethanol, an environmentally-friendly and renewable transportation
fuel, as well as high-performance specialty enzymes for applications within
the biofuels, industrial, and animal health markets. The Company possesses
integrated, end-to-end capabilities and cutting-edge technology in
pre-treatment, novel enzyme development, fermentation and project development
for next-generation biofuels. Through Vercipia, a 50-50 joint venture with BP,
the Company is moving rapidly to commercialize cellulosic technology for the
production of ethanol from a wide array of non-food feedstocks, including
dedicated energy crops, agricultural waste, and wood products. In addition to
the vast potential for biofuels, a multitude of large-scale industrial
opportunities exist for the Company for products derived from the production
of low-cost, biomass-derived sugars.

Verenium's Specialty Enzyme business harnesses the power of enzymes to create
a broad range of specialty products to meet high-value commercial needs.
Verenium's world class R&D organization is renowned for its capabilities in
the rapid screening, identification, and expression of enzymes-proteins that
act as the catalysts of biochemical reactions. For more information on
Verenium, visit http://www.verenium.com.

Forward Looking Statements
Statements in this press release that are not strictly historical are
"forward-looking" and involve a high degree of risk and uncertainty. These
include, but are not limited to, statements related to the Company's
operations, capabilities, commercialization activities, target markets,
cellulosic ethanol facilities, target markets and future financial
performance, results and objectives, all of which are prospective. Such
statements are only predictions, and actual events or results may differ
materially from those projected in such forward-looking statements. Factors
that could cause or contribute to the differences include, but are not limited
to, risks associated with Verenium's technologies, risks associated with the
costs, labor requirements and labor availability associated with Verenium's
demonstration plant, risks associated with Verenium's ability to obtain
additional capital to support its planned operations and financial
obligations, risks associated with Verenium's dependence on patents and
proprietary rights, risks associated with Verenium's protection and
enforcement of its patents and proprietary rights, technological, regulatory,
competitive and other risks related to development, production, and
commercialization of cellulosic ethanol and other biofuels and the commercial
prospects of those industries, Verenium's dependence on existing
collaboration, manufacturing, and/or license agreements, and its ability to
achieve milestones under existing and future collaboration agreements, the
ability of Verenium and its partners to commercialize its technologies and
products (including by obtaining any required regulatory approvals) using
Verenium's technologies and timing for launching any commercial products and
projects, the ability of Verenium and its collaborators to market and sell any
products that it or they commercialize, the development or availability of
competitive products or technologies, the future ability of Verenium to enter
into and/or maintain collaboration and joint venture agreements and licenses,
changes in the U.S. or global energy markets and laws and regulations
applicable to them, and risks and other uncertainties more fully described in
the Company's filings with the Securities and Exchange Commission, including,
but not limited to, the Company's annual report on Form 10-K for the year
ended December 31, 2008 and any updates contained in its subsequently filed
quarterly reports on Form 10-Q. These forward-looking statements speak only
as of the date hereof, and the Company expressly disclaims any intent or
obligation to update these forward-looking statements.

Contacts:
Kelly Lindenboom Sarah Carmody
Vice President, Corporate Sr. Corporate Communications Associate
Communications 617-674-5357
617-674-5335 sarah.carmody@verenium.com
kelly.lindenboom@verenium.com

SOURCE Verenium Corporation

Kelly Lindenboom, Vice President, Corporate Communications, +1-617-674-5335,
kelly.lindenboom@verenium.com; or Sarah Carmody, Sr. Corporate Communications
Associate, +1-617-674-5357, sarah.carmody@verenium.com, both of Verenium
Corporation