Novozymes says US cellulosic ethanol will be profitable in 2015 without government subsidies

In Denmark, executives at Novozymes projected that US cellulosic ethanol will be profitable without government subsidies by 2015, conditioned on the price of crude oil rebounding to the $80-$120 per barrel range. The company, however, has concluded that Europe will miss out on cellulosic ethanol because they did not build a distribution infrastructure based on first-generations fuel. The company said that they will sell 30-50 cents of enzymes per gallon of cellulosic ethanol, up from 3.5-6 cents per gallon for first generation ethanol.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

Novozymes says Brazil can produce up to 2 billion gallons of cellulosic ethanol

In Brazil, Novozymes has released a report projecting that, by 2012, Brazil could commence commercial-scale production of cellulosic biofuel made from sugarcane residues, and could produce up to 2.1 b...

Novozymes expands to Iowa, adds lab facility as enzyme operations grow

In Iowa, Novozymes has established a new laboratory facility for ethanol production at the Iowa State University Research Park in Ames. Novozymes which supplies enzymes for conventional and cellulosic...

Novozymes to partner with China’s Sinopec, COFCO to develop cellulosic ethanol market

In China, Novozymes announced a partnership with  Chinese oil and energy company Sinopec to produce commercial-scale cellulosic ethanol from corn stover. Novozymes confirmed that their cellulosic eth...

Novozymes projects cellulosic ethanol enzyme costs as low as $0.50 per gallon by 2010

At World Biofuels Markets, Novozymes global marketing manager Cindy Bryant credited the company's Cellic enzyme product family for "achieving the best cost/performance ratio seen so far" and helping t...

Novozymes to build $100 million enzyme plant in Nebraska

In Nebraska, Novozymes said that it will construct a 50,000 ton enzyme plant in Blair at a cost of between $80 million and $100 million. The plant will produce enzymes for ethanol production, as well ...

Special Report on Cellulosic Ethanol: Novozymes aims for lower-cost enzymes with DOE funding support

In Denmark, the US DOE has given Novozymes a $12.3 million contract for R&D on reducing the cost of producing cellulosic ethanol from corn stover. The focus is on superior enzymes. The company sai...