DuPont and Genencor announced an agreement to form DuPont Danisco Cellulosic Ethanol LLC, a global joint venture to develop and commercialize technology solutions for the production of cellulosic ethanol. The joint venture plans to help enable production of commercial volumes of cellulosic ethanol by 2012.
The two companies are planning for an initial three-year investment of US $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. The joint venture between DuPont and Genencor will license its technology package directly to ethanol producers for deployment in the United States and around the world, as well as through the establishment of regional cellulosic ethanol affiliates.
"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 Charles Holliday, Jr. "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."
