BP Will Acquire Verenium's Biofuels | July 19, 2010 Issue - Vol. 88 Issue 29 | Chemical & Engineering News
Volume 88 Issue 29 | p. 18 | Concentrates
Issue Date: July 19, 2010

BP Will Acquire Verenium's Biofuels

Department: Business | Collection: Disaster in Gulf
News Channels: Environmental SCENE
Keywords: biofuels, cellulosic ethanol cleantech

BP’s North American biofuels business has agreed to acquire Verenium’s cellulosic biofuels business for $98.3 million. The deal includes an ethanol pilot plant in Jennings, La., and labs in San Diego. Verenium will retain its commercial enzymes business, including biofuels enzymes, and will have the right to develop its own lignocellulosic enzyme program. BP, which formed a joint venture with Verenium last year, says the purchase advances its plan to become a leader in the cellulosic biofuels industry.

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