Verenium and BP name their partnership Vercipia, aim for DOE loan guarantee on Florida project

In Massachusetts, BP and Verenium announced that its 50-50 joint venture company will operate under the name Vercipia Biofuels, and plan to relocate its corporate headquarters to Florida. Vercipia continues to focus on the development of one of the nation’s first commercial-scale cellulosic ethanol facilities, located in Highlands County, Florida.

The company is also developing a second commercial-scale cellulosic ethanol site in the Gulf Coast region.

Since announcing the formation of the joint venture company in February, Vercipia has applied for and been selected to move forward with due diligence on a Department of Energy (DOE) Loan Guarantee for the Highlands project, which is now underway. In addition, the team has continued to advance development activity in Florida and on a second site in the Gulf Coast region.

Digest sources say that Verenium is expected to win one of up to six grants expected to be announced by the DOE within the next 45 days, which according to sources “will crown the early winners in cellulosic ethanol”. Sources says that the DOE has not given guidance on the identity of grant recipients, but noted that Verenium’s early application, partnership with BP, and strong development pathway on its cellulosic ethanol operation makes it an odds-on contender for one of the next round of grants,

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