Why they're Hot: BP Biofuels – #12 so far (#4 last year)

November 24, 2010 |

The Latest News: In July, Verenium announced the closing of the sale of its cellulosic biofuels business to BP Biofuels North America for $98.3 million, subject to the additional financial terms of the transaction announced on July 15, 2010. In the transaction, BP acquired the Company’s facilities in Jennings, LA, including the pilot plant and demonstration-scale facility, the San Diego, CA R&D facilities, as well as cellulosic biofuels and cellulosic enzyme technology and related IP.

The Digest’s Take:
A tough year for the global BP brand, but the company showed with its acquisition of Verenium’s interest in Vercipia that it is not kidding about taking its wide range of advanced bioenergy technologies to scale. Though its interest in Butamax is equally near to commercialization, its wholly owned interest in Vercipia is likely to draw the most attention to BP Biofuels in the near term. But, wonder many, is BP going to do in Brazil? There have been reports that BP is pursuing a $466 million investment in the Carradinho ethanol group – if not that, look for other deals in Brazil for BP.

Category: Fuels

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