Cellulosic ethanol venture 20 February 2009

BP and Verenium Corporation have formed a 50-50 joint venture to develop and commercialise cellulosic ethanol from non-food feedstocks. The joint venture company will act as the commercial entity for the deployment of cellulosic ethanol technology being developed and proven under the first phase of the BP-Verenium partnership, announced August 2008. Together the companies have agreed to commit $45 million in funding and assets to the joint venture company. ...