Verenium Corporation's (NASDAQ:VRNM) Purifine Should Add Growth

Verenium Corporation's (NASDAQ:VRNM) Purifine may add solid incremental growth to the company in 2010 and 2011, according to Olympia Capital Markets.

They said, "VRNM announced an agreement with Desmet Ballestra Group s.a., a leading global solutions provider in the field of engineering and delivery of installations and equipment for the edible oil and fats and biodiesel industries, to jointly market the Purifine enzymatic degumming process, which combines Verenium's Purifine PLC enzyme and Desmet Ballestra's engineering services and equipment...We believe Purifine sales could provide a significant increment to the Company’s sales growth. Our current total product revenue estimates are $51.0 million for 2010 and $56.8 million for 2011."

Olympia Capital Markets maintains a "Buy" rating on Verenium, which closed Monday at $3.49, up by $0.21, or 6.40 percent. They have a price target of $5 on them.