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Shell Beefs Up Position in Next Generation Biofuel

5:04 AM MDT | July 17, 2008 |

Alex Scott

Shell says it has increased its ownership of biofuels technology firm Iogen Energy (Ottawa) to 50%, up from 26.5%, as part of a strategy to accelerate its program to manufacture cellulosic ethanol. The cost of the shares purchase represents a “significant investment,” Shell says. Further financial details were not disclosed. Shell first took an equity stake in Iogen in 2002.   As part of the agreement the two firms will extend their existing commercial alliance to develop next generation ethanol derived from cellulosic based material based...

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