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Business
BP and Verenium Form Joint Venture
by Melody Voith
February 23, 2009
| A version of this story appeared in
Volume 87, Issue 8
BP and Verenium announced that they have expanded a partnership, first announced in August 2008, to develop and commercialize ethanol made from the enzymatic conversion of cellulosic raw materials. The firms have committed $45 million to a 50-50 joint venture and plan to construct a $300 million, 36 million-gal-per-year ethanol facility in Highlands County, Fla., which would come on-line in 2012.
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