Crysalis Biosciences Announces Significant Milestones
and Closure of Investment from SAFFA Fund I, LP, anchored by Airbus

[Sauget, IL] — [August 5, 2024 — Crysalis Biosciences Inc., a pioneering biochemicals manufacturing company, announced the achievement of several key milestones and the successful closure of an investment by Airbus, marking a significant step forward in the company’s mission to manufacture zero carbon biochemicals creating green chemical manufacturing infrastructure in the United States.

Crysalis continues to make substantial progress in its quest to transform the fuel and chemical industry. The company’s recent accomplishments include the acquisition and renovation of the Monarch facility, a 55 million gallon per year ethanol plant located in Sauget, IL, which was shuttered in 2019. As of the first quarter of 2024, the plant has completed upgrades and received the necessary environmental authorizations to resume operations.

The recent investment is from Burnham Sterling Asset Management LLC (BSAM) through its Sustainable Aviation Fuel Financing Alliance fund (SAFFA Fund I, LP), with Airbus as SAFFA’s  anchor investor. This highlights the financial and aviation communities’ confidence in Crysalis Biosciences’ innovative approach and technological advancements.

Milestones Achieved:

1. Acquisition of Monarch Facility: In Q1 of 2023, Crysalis acquired its first shuttered ethanol plant, setting the stage for its future developments.
2. Completion of Refurbishments: By Q1 of 2024, Crysalis completed essential renovations at the Monarch plant, equipping it with state-of-the-art technology for future productions.
3. Environmental Approval: Following the renovations, Crysalis secured one of the first environmental authorizations to commence operations under new Illinois EPA review procedures, highlighting Crysalis diligence and preparation to meet stringent environmental standards.
4. SAFFA Investment: The investment by SAFFA fund represents a strategic endorsement of Crysalis’ potential to impact the sustainable aviation fuel market.

Future Outlook: Crysalis plans to retrofit the Monarch plant to produce 30 million gallons per year of sustainable aviation fuel (SAF), featuring a carbon intensity score that is 90% lower than that of traditional fossil-derived jet fuel. Additionally, the deployment of innovative technology developed at the National Renewable Energy Laboratory (NREL) will enable the production of the world’s first 100% bio-based acetonitrile at this site, with similarly reduced carbon intensity. Acetonitrile is widely used in the pharmaceutical and lithium-ion battery manufacturing sectors and this product mix points to Monarch’s significant profitability and growth potential. The company aims to have its low carbon acetonitrile present in every university lab and integrated into the pharmaceutical manufacturing process worldwide, while also supplying a majority of SAF to the airline industry.

CEO Statement: “As the cofounder of Crysalis Biosciences, I am thrilled to witness the tangible impact of our efforts in advancing zero carbon futures. Our work at the Monarch plant is just the beginning to supply biochemicals that are environment friendly, cost competitive, and available in large volumes. This is just the start, and with each new facility we revitalize, we move closer to a zero-carbon future powered by innovation and efficiency.”

About Crysalis Biosciences: Crysalis Biosciences is a biochemicals manufacturing company dedicated to renewing and revitalizing U.S. chemical manufacturing infrastructure with innovative biochemical production technologies. Crysalis’ cutting-edge technology and strategic industry alignment will provide a path for many companies to reduce their environmental impact while fostering economic growth and returns to their stakeholders. For more information seet the company’s website: https://crysalisbio.com/.

For further information, please contact: Peter Wright, Vice President, Compliance & External Engagement, Washington, DC, , (706) 223-0530