BP Forms Cellulosic Ethanol Alliance with Verenium

BP says it has entered into a partnership with Verenium (Cambridge, MA) for the development and commercialization of cellulosic ethanol. During the first 18 months of the alliance, the companies will operate as a Special Purpose Entity (SPE) that will be equally owned by both companies and will license existing intellectual property from each company in the field of cellulosic ethanol production. Beyond the initial phase, BP and Verenium plan to form a joint venture for the construction of commercial-scale cellulosic ethanol production facilities. Under the first...

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