BP and Verenium form Vercipia Biofuels
Hot on the heels of its launch of Butamax earlier this month BP is further strengthening its biofuels efforts with the inception of a joint venture company with Verenium, Vercipia Biofuels.
While Butamax will focus R&D resources on biobutanol, Vercipia Biofuels will continue to develop one of the US’ first commercial-scale cellulosic ethanol facilities, located in Highlands County, Florida. The company is also developing a second commercial-scale cellulosic ethanol site in the Gulf Coast region.
The 50-50 joint venture company plans to relocate its corporate headquarters to Florida.
‘BP’s approach to meeting America’s future energy needs includes a significant investment in biofuels development, as this project demonstrates,’ Susan Ellerbusch, president of BP Biofuels North America, comments.
Since forming in February, the joint venture has been selected to move forward with due diligence on a Department of Energy (DoE) Loan Guarantee for the Highlands project, which is now underway. In addition, the team has continued to advance development activity in Florida and on a second site in the Gulf Coast region.
Vercipia plans to break ground on its first commercial plant in Highlands County, Florida in 2010. The plant will use energy crops and grasses as feedstock.
While Butamax will focus R&D resources on biobutanol, Vercipia Biofuels will continue to develop one of the US’ first commercial-scale cellulosic ethanol facilities, located in Highlands County, Florida. The company is also developing a second commercial-scale cellulosic ethanol site in the Gulf Coast region.
The 50-50 joint venture company plans to relocate its corporate headquarters to Florida.
‘BP’s approach to meeting America’s future energy needs includes a significant investment in biofuels development, as this project demonstrates,’ Susan Ellerbusch, president of BP Biofuels North America, comments.
Since forming in February, the joint venture has been selected to move forward with due diligence on a Department of Energy (DoE) Loan Guarantee for the Highlands project, which is now underway. In addition, the team has continued to advance development activity in Florida and on a second site in the Gulf Coast region.
Vercipia plans to break ground on its first commercial plant in Highlands County, Florida in 2010. The plant will use energy crops and grasses as feedstock.
Loading ...
