BP and Verenium Form Biofuel Alliance

BP says it has entered into a partnership with biofuel startup Verenium (Cambridge, MA), under which BP will pay Verenium $90 million for access to the company’s cellulosic ethanol technology. The investment will also fund Verenium’s R&D through 2010. “This deal puts us at the front of the cellulosic biofuels game,” says Sue Ellerbusch, president of BP Biofuels North America. “In partnering with Verenium, we now have the most advanced technology for transforming these energy grasses to biofuels, increasing our ability to invest...

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