Novozymes says China biofuels are key to global enzymes growth

In China, Novozymes said that increasing biofuel demand in China will be a key to the company’s growth, although the company expressed its optimism for the market in terms of converting 10 percent of total Chinese transportation fuels to bioenergy by 2020, as opposed to the 15 percent figure advanced in the past by Chinese officials.

Novozymes has established an enzyme R&D project in Harbin, in partnership with COFCO, and Chinese oil giant Sinopec has said that it will join the project to produce commercial-scale cellulosic ethanol from corn stover.

Novozymes confirmed that their cellulosic ethanol enzymes will be available on a commercial scale in 2010, and will work with COFCO as well as Sinopec to develop a CE plant of unannounced capacity. Sinopec controls 60 percent of the Chinese refined oil market.

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