May 17 2008
DuPont and Genencor, a division of Danisco A/S, are forming DuPont Danisco Cellulosic Ethanol LLC, a 50/50 global joint venture to develop and commercialize the leading, low-cost technology solution for the production of cellulosic ethanol -- a next generation biofuel produced from non-food sources - to address a USD 75 billion global market opportunity.
DuPont scientist Paul Vitennan develops biocatalysts for the DuPont Danisco Cellulosic Ethanol joint venture.
The partners plan an initial three-year investment of USD 140 million, which will initially target corn stover and sugar cane bagasse. Future targets include multiple ligno-cellulosic feedstocks including wheat straw, a variety of energy crops and other biomass sources.
"With food and gas prices surging at double-digit rates, there is an imperative for sustainable biofuels technologies. This joint venture addresses this issue head on," said DuPont Chairman and CEO Chad Holliday. "By integrating our companies' strengths and expertise in this new venture, we are significantly increasing the potential to make cellulosic ethanol from multiple non-food sources an economic reality around the world."
"By combining the world-class capabilities of DuPont and Danisco, our joint venture will offer the technology standard for cellulosic ethanol production," said Danisco CEO Tom Knutzen. "This joint venture will be a powerhouse of discovery, development and engineering. It represents a major step forward in Danisco's new strategic intent to be a leading force in the field of industrial biotechnology."
Through the scientists and technologies of both companies, DuPont Danisco Cellulosic Ethanol LLC will launch an accelerated effort to integrate the unique cellulosic processing capabilities of both companies to economically produce ethanol from non-food sources. The parent companies will license their combined existing intellectual property and patents related to cellulosic ethanol. The goal is to maximize efficiency and lower the overall system cost to produce a gallon of ethanol from cellulosic materials by optimizing the process steps into a single integrated technology solution.
Posted May 15th,2008