NEW PROJECTS IN THE CELLULOSIC ETHANOL INDUSTRY

摘要

British Petroleum (BP) Plc. said it is extending an existing partnership with Verenium Corp. to include developing a cellulosic ethanol facility in Highlands County, Florida. BP will contribute $22.5 mln to the Florida project as part of the 50:50 $90 mln joint venture, first announced last August. With the move announced on February 18, BP has invested $112.5 mln in Verenium and received a 50% stake in licensing the company's technology. It is estimated that the Florida facility will cost $250-300 mln to build. The companies plan to commence production in 2012. Verenium earlier said the Florida cellulosic ethanol project is to have an annual ethanol production capacity of 35 mln gallons. Verenium operates a 1.4 mln gallon ethanol plant in Jennings, Louisiana.