DuPont to invest in three new biofuel facilities

DuPont announced that it is planning three additional equity investments in biofuels facilities. The company said that it projects biofuel revenues to reach $1.2 billion by 2012. The company, which holds a 10 percent stake in a UK ethanol plant in partnership with BP and British Sugar, said it is negotiating with BP on new investment.

DuPont recently unveiled a three-stage biofuels strategy, including: improving the yield of grain ethanol production; developing cellulosic ethanol technologies; and its butanol partnership with BP.

DuPont ethanol biofuels leader Russ Sanders addressed a Citigroup ethanol conference where a bullish ethanol forecast for 2008 was unveiled by Citigroup analysts.

A butanol launch is scheduled for October in the UK. Sanders also touted the company’s corn hybrids, its insect protection system, and a joint venture with the US Department of Energy in cellulosic ethanol.

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