Danisco Unit In JV With DuPont To Develop Cellulosic Ethanol

CNN Money.com
May 14, 2008: 06:25 AM EST
Edited Press Release

STOCKHOLM -(Dow Jones)- Danisco said Wednesday that DuPont and Genencor, a division of Danisco, have announced an agreement to form DuPont Danisco Cellulosic Ethanol LLC, a 50/50 global joint venture.

The joint venture will develop and commercialize the technology solution for the production of cellulosic ethanol - a next generation biofuel produced from non-food sources - to address a $75 billion global market opportunity.

The partners plan an initial three-year investment of $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.

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