BP Becomes Leader in Cellulosic Ethanol Investment, Adds $22.5M to Verenium. On Wednesday, BP anounced a joint venture with Verenium to build the world’s largest cellulosic ethanol facility. BP’s total investment—now $112.5 million—will be the largest by an oil company in advanced, non-food-based biofuels.
The Florida-based plant would be 25 times larger than Verenium’s existing (and operational) cellulosic ethanol facility in Louisiana, which began operation earlier this month and is expected to produce 60+ million gallons of cellulosic ethanol per year when at full capacity. This new, larger facility is schedule to break ground in 2010 and commece operations in 2012.
Much More at Gas 2.0
Monday, February 23, 2009
Posted by glowplug at 6:29 PM