BP and Verenium Team up to Produce Cellulosic Biofuels. AP, August 7th, 2008. "European oil major BP said Wednesday it is investing $90 million in U.S. biofuels producer Vereniumto form a partnership aimed at developing and commercializing next-generation biofuels. BP -- Europe's second-biggest oil producer behind Royal Dutch Shell -- said it would invest the money over the next 18 months for rights to current and future technology held within the partnership. BP hopes the partnership will speed up the development of cellulosic ethanol via facilities in the U.S…. Verenium began operating the first U.S. cellulosic ethanol demonstration-scale plant in Louisiana earlier this year. 'We believe energy crops like sugar cane, miscanthus and energy cane are the best feedstocks to deliver economic, sustainable and scaleable biofuels to the world,' said Sue Ellerbusch, president of BP Biofuels North America. 'This deal puts us at the front of the cellulosic biofuels game.'"
2008-08-08
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