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Crop Biotech Update

DuPont and Genencor Form Cellulosic Ethanol Venture

May 16, 2008

United States chemical company DuPont and Genencor, a division of the Danish food ingredient producer Danisco A/S, will cooperate to produce cellulosic ethanol, a renewable biofuel sourced from non-food feedstocks such as sugar cane bagasse, switchgrass and wheat straw. DuPont and Genencor will form DuPont Danisco Cellulosic Ethanol LLC, a fifty-fifty joint venture that will “provide low-cost technology solution” for the production of cellulosic ethanol, which according to the companies addresses a $75 billion global market opportunity.

An initial $ 140 million three-year investment will focus first on corn stover and sugar cane bagasse. The company’s first pilot plant is expected to be operational in the US in 2009 and its first commercial-scale demonstration facility functional within the next three years. In addition, the joint venture expects to enable production of commercial volumes of cellulosic ethanol by 2012.

DuPont and Genencor noted that the US Department of Energy has supported their efforts through multiple grants totaling to more $ 60 million since 2000.

The media release is available at http://www.genencor.com/cms/connect/genencor/media_relations/news/frontpage/investor_257_en.htm