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2015-08-31

GLOBAL BIOENERGIES: HALF-YEAR RESULTS AS AT 30 JUNE 2015

t cash of €13.8 million at 30 June 2015, down only €1.9 million
over the
half-year

Group structuring

Evry, 31 August 2015 -
Global Bioenergies (Alternext Paris: ALGBE), has just published its certified
financial statements for the first half of 2015, approved by the Board of
Directors on 31 August 2015.

The Global Bioenergies Group is now composed of the parent company Global
Bioenergies SA, its two wholly owned German subsidiaries (Global Bioenergies
GmbH and IBN-Two GmbH), as well as the joint venture IBN-One SA held on a
50-50 basis with Cristal Union.

* Group structure at 30 June 2015

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The Group's consolidated accounts are presented on a voluntary basis, in order
to provide the clearest possible financial information on Global Bioenergies'
activities.
* Group Profit&Loss Account as at 30 June 2015

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| |
| € thousands 01/01/15 01/01/14 01/01/13 |
| GROUP CONSOLIDATED ACCOUNTS to 30/06/15 to 31/12/14 to 31/12/13 |
| 6 months 12 months 12 months |
| |
| |
| Operating income 761 3,171 1,184 |
| Operating expenses 6,801 12,672 7,890 |
| Operating profit (loss) -6,040 -9,501 -6,706 |
| |
| Financial income -69 130 106 |
| Exceptional profit (loss) -20 -83 -23 |
| |
| Income tax see note below -1,876 -1,413 |
| |
| Net profit (loss) -6,129 -7,578 -5,211 |
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Note: in accordance with standard practice, the Company does not recognise any
Research Tax Credit in its half-year accounts.

The Group's operating income for the first half of 2015 mainly consists of
revenue stemming from the industrial groups Synthos and Audi.

The Group's operating expenses for the first half of 2015 break down as
follows:

In addition to the expenses directly attributable to the operation of the
pilot plant of Pomacle-Bazancourt and the design of the Leuna demo plant
(currently under construction), this item includes expenses for
subcontractors and consultants working on the more general chemical
engineering of Global Bioenergies' processes.

There has been little change in the structure of the expenses compared with
2014.

* Group Balance Sheet as at 30 June 2015

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| Assets (€ thousands) 30/06/15 31/12/14 Liabilities (€ thousands) 30/06/15 31/12/14 |
| |
| Intangible assets 147 137 Capital 139 139 |
| Assets 4,952 3,721 Share premium 36,136 36,009 |
| Financial assets 121 110 Retained earnings -19,655 -12,087 |
| Profit (loss) -6,129 -7,578 |
| |
| NON-CURRENT ASSETS 5,221 3,968 EQUITY 10,481 16,483 |
| |
| PROVISIONS 31 28 |
| |
| Inventories, receivables, prepaid expenses 3,838 4,922 Conditional advances and loans 9,968 4,162 |
| Cash 13,804 15,658 Trade payables and related accounts 1,479 2,395 |
| Other debts 905 1,479 |
| |
| CURRENT ASSETS 17,643 20,579 PAYABLES 12,352 8,036 |
| |
| TOTAL ASSETS 22,863 24,547 TOTAL LIABILITIES 22,863 24,547 |
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Global Bioenergies' balance sheet shows a rise in non-current assets,
following the completion of the initial phase of the Leuna demo plant.

Global Bioenergies contracted a loan of €4.4 million (of which €3.8 million
had been released at 30 June; the balance of €0.6 million released in early
July is thus not recognised in the balance sheet) from a consortium of four
French banks, to contribute to the financing of the Leuna demo plant. The
Group also obtained an interest-free innovation loan (PTZI) from Bpifrance,
amounting to €1.4 million. Moreover, Global Bioenergies received a repayable
advance of €1.1 million from the French Agence de l'Environnement et de la
Maîtrise de l'Energie (ADEME) , following the validation of the first key
phase of the BioMA+ project.

The Group's equity amounted to €10.5 million at the end of June; the drop is
mainly due to the loss of €6.1 million recognised at 30 June 2015.

Net cash amounted to €13.8 million at 30 June 2015. As a reminder, at 31
December 2014, net cash amounted to €15.7 million.

* Group Cash-Flow for the first half of 2015

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| CASH-FLOW (€ thousands) H1 2015 2014 |
| |
| Operating cash-flow -6,090 -8,009 |
| Investing cash-flow -1,697 -2,798 |
| Financing cash-flow 5,844 2,720 |
| Net cash-flow -1,943 -8,087 |
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The Group's net cash-flow (difference between cash inflows and outflows) shows
a cash reduction of €1.9 million in the first half of 2015, i.e. a two-fold
drop in burn rate compared with FY 2014.

* Highlights of the first half of 2015 and recent events

Adaptation of the Isobutene process to saccharose and xylose

The Group has managed to adapt its Isobutene process to saccharose (sugar
derived from sugarbeet or sugarcane) and xylose (sugar derived from wood). Up
until now, the process had been developed using glucose (sugar derived from
cereals). The diversification of renewable resources compatible with its
process is of major importance for Global Bioenergies.

Delivery of first batches of isobutene to Arkema

One of the very first batches of isobutene produced at Pomacle-Bazancourt was
delivered to Arkema for its conversion into methacrylic acid. This delivery
took place six months ahead of schedule under the BioMA+ project.

Delivery of first batch of isooctane to Audi

Isooctane has been synthesized from isobutene produced at Pomacle-Bazancourt.
This fuel, which can be used without any restriction in vehicles with
conventional gasoline engines, is equivalent to premium-grade gasoline (Super
100). Global Bioenergies delivered a first batch of this renewable isooctane
to Audi, thereby reaching the second key phase of the partnership between the
two companies.

Set-up of the IBN-One joint venture

Global Bioenergies and sugar manufacturer Cristal Union set up a joint venture
(IBN-One) whose purpose is to build and operate France's first factory to
convert renewable resources into isobutene by 2018. Players in the chemicals
and/or fuel industries are expected to join this project and take part in its
implementation.

François-Henri Sahakian, Global Bioenergies' CFO, states: "The first half of
2015 has been exceptional: for the first time, we have packaged and delivered
batches of isobutene from our Pomacle-Bazancourt pilot plant; the
construction of the Leuna demo plant has started; and the foundations of the
first renewable isobutene plant have been laid. Along with these great
strides, the Company has maintained good financial visibility, keeping its
burn rate down to only €1.9 million over the half-year.".

Marc Delcourt, co-founder and CEO of Global Bioenergies, concludes as follows:
"Over the past year, the oil market has been in a situation of
overproduction. One or two more years are likely to be necessary to eliminate
the surpluses and reduce stock levels. This time frame should perfectly
coincide with that of the construction of the IBN-One plant, which could then
start operating, at the end of 2018, in a stabilised energy market."

About GLOBAL BIOENERGIES

Global Bioenergies is one of the few companies worldwide, and the only one in
Europe, that is developing a process to convert renewable resources into
hydrocarbons through fermentation. The Company initially focused its efforts
on the production of isobutene, one of the most important petrochemical
building blocks that can be converted into fuels, plastics, organic glass and
elastomers. Global Bioenergies continues to improve the performances of its
process, operates its industrial pilot, has begun the construction of its
demo plant in Germany, and prepares the first full-scale plant through a
Joint-Venture with Cristal Union, named IBN-One. The company also replicated
its achievement to propylene and butadiene, two members of the gaseous
olefins family, key molecules at the heart of petrochemical industry. Global
Bioenergies is listed on Alternext, Euronext Paris (FR0011052257 - ALGBE).

Should you like to be kept informed, subscribe to our news feed on
www.global-bioenergies.com

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@GlobalBioenergi

Contact

François-Henri SAHAKIAN
Chief Financial Officer
Phone: +33 1 64 98 20 50
Email:invest@...

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