Green Earth Institute (TYO:9212) has approved a subsidy increase amounting to 43.8 million yen for its enzyme evaluation business, according to a Tokyo bourse filing on Thursday.
The updated subsidy covers an expanded scope involving the evaluation of both domestic and international enzymes fit for the biotechnology company's continuous simultaneous saccharification and fermentation process.
The process is the core technology of the GEI wood-to-ethanol process that targets low-cost production of bioethanol from woody biomass.
The approved additional subsidy covers the period from fiscal 2026 to fiscal 2030.
The biotechnology company expects the additional subsidy to lead to a rise in nonoperating income starting in the fiscal year ending Sept. 30, 2027.
The company's enzyme evaluation segment is part of a publicly solicited project with Daio Paper (TYO:3880) by the New Energy and Industrial Technology Development Organization.
Shares of Green Earth Institute rose more than 3% in recent trade.