Joint Venture Combines Companies' Strengths in the Development and Deployment
of Second Generation Ethanol from Non-Food Feedstocks to Address $75 Billion
Market Opportunity
DuPont and Genencor, a division of Danisco A/S, today announced an agreement to
form DuPont Danisco Cellulosic Ethanol LLC, a 50/50 global joint venture to
develop and commercialize the leading, low-cost technology solution for the
production of cellulosic ethanol -- a next generation biofuel produced from
non-food sources - to address a $75 billion global market opportunity.
The partners plan 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.
“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 O. 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.”
“By combining the world-class capabilities of DuPont and Danisco, our joint
venture will offer the technology standard for cellulosic ethanol production,”
said Danisco CEO Tom Knutzen. “This joint venture will be a powerhouse of
discovery, development and engineering. It represents a major step forward in
Danisco's new strategic intent to be a leading force in the field of industrial
biotechnology.”
