A joint venture company, to develop and commercialize a low-cost technology solution for the production of cellulosic ethanol,  has been set up by DuPont and Genencor, a division of Danisco A/S it was announced today (15th May). The company, DuPont Danisco Cellulosic Ethanol LLC, will initially target corn stover and sugar cane bagasse, but future targets include multiple ligno-cellulosic feedstocks including wheat straw, a variety of energy crops and other biomass sources. The company represents an initial three-year investment of USD 140 million by the partners on a 50/50 basis.

"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 Chad Holliday.  "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."