FOR IMMEDIATE RELEASE

Elevance Renewable Sciences and Evonik Industries Announce Metathesis Catalysts License Agreement

Bolingbrook, IL, (July 7, 2010) — Evonik Industries and Elevance Renewable Sciences announce they have entered into a license agreement regarding Evonik's United States Patents Nos. 7,738,528 and 7,652,145, directed to metathesis technology excluding Evonik's catMETium® RF product portfolio. The companies also intend to cooperate in further developing application of metathesis catalysts within Elevance's business scope.

Elevance has developed technology for manufacturing specialty chemicals from natural oils such as soybean, palm, rapeseed, algae and Jatropha. It manufactures oils, lubricants additives, antimicrobials and other chemicals from such bio-renewables, and competes with petrochemical based products.

"Metathesis reactions are a key step in our bio refinery process to make the conversion from natural oils to specialty chemicals," says K'Lynne Johnson, CEO of Elevance. "Evonik's licensed metathesis catalysts complement our existing catalyst portfolio," says Johnson.

Evonik has developed metathesis catalysts within its homogeneous catalysts portfolio.

"We are looking forward to Elevance's successful application of innovative metathesis reactions in the conversion of natural oils," says Dr. Wilfried Eul, Senior Vice President and Head of Evonik's Catalyst Business.

Evonik is a leading global supplier of catalytic system solutions. It offers an extensive range of catalysts from a single source, as well as integrated services for customers in the life sciences, fine chemicals, industrial chemicals, chemical intermediates, petrochemicals, and polymer industries.

Through strategic collaboration, Elevance is transforming petroleum-based manufacturing using processes that draw on renewable resources. Elevance uses annually renewable ingredients given to us by nature and converts them into specialty chemicals. Elevance's proprietary technology delivers a broad portfolio of high-performance products targeted at personal care and cosmetic applications, anti-microbials, industrial lubricants, high-performance waxes and additives.

About Evonik

Evonik Industries is the creative industrial group from Germany. In our core business of specialty chemicals, we are a global leader. In addition, Evonik is an expert in power generation from hard coal and renewable energies, and one of the largest private residential real estate companies in Germany. Our company's performance is shaped by creativity, specialization, continuous self-renewal, and reliability. Evonik is active in over 100 countries around the world. In its fiscal year 2009 about 39,000 employees generated sales of about €13.1 billion and an operating profit (EBITDA) of about €2.0 billion.

About Elevance Renewable Sciences, Inc.

Based in Bolingbrook, Ill., Elevance Renewable Sciences, Inc. creates a wide range of specialty chemicals from natural oils. Using a Nobel Prize winning technology called olefin metathesis; the company creates high performance waxes, functional oils, anti-microbials, lubricants, additives and other chemicals. Elevance was named one of Business Week's Top 10 Most Successful Startups of 2008. To learn more about the company, visit www.elevance.com.