Verenium and BP extend partnership
Leading the way in the development and commercialisation of cellulosic ethanol, Verenium Corporation and energy giant BP have extended their original 18-month partnership.
Scheduled to terminate on 1 February, the collaboration will now expire one month later, on 1 March 2010.
In a joint venture with BP that is expected to be extended yet again during these approaching weeks, Verenium is working towards commercialising cellulosic technology for the production of second-generation ethanol from feedstocks such as agricultural waste, wood products and dedicated energy crops.
In order to fund its projects this month, BP is awarding Verenium $2.5 million (€1.8 million). This funding will help the company finance numerous scientific and technical plans throughout February.
‘We are very pleased with the success we've had over the 18-month Galaxy collaboration and are enthusiastic about expanding this technology development partnership with BP. We continue to focus on our vision for evolving cellulosic ethanol as a viable solution to complement our energy needs,’ said Carlos A. Riva, President and CEO at Verenium.
Scheduled to terminate on 1 February, the collaboration will now expire one month later, on 1 March 2010.
In a joint venture with BP that is expected to be extended yet again during these approaching weeks, Verenium is working towards commercialising cellulosic technology for the production of second-generation ethanol from feedstocks such as agricultural waste, wood products and dedicated energy crops.
In order to fund its projects this month, BP is awarding Verenium $2.5 million (€1.8 million). This funding will help the company finance numerous scientific and technical plans throughout February.
‘We are very pleased with the success we've had over the 18-month Galaxy collaboration and are enthusiastic about expanding this technology development partnership with BP. We continue to focus on our vision for evolving cellulosic ethanol as a viable solution to complement our energy needs,’ said Carlos A. Riva, President and CEO at Verenium.
Loading ...
