BP’s Cellulosic Ethanol Assets Planned for Sale
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Informa Plc., London, U.K., reported this past week on its World Ethanol & Biofuels Report website that BP will divest its ligno-cellulosic ethanol assets, which are to be sold at auction. "The current challenging external business environment is resulting in tough strategic choices having to be made by businesses across BP. In Biofuels, the decision has been taken to cease further development of BP’s proprietary ligno-cellulosic technology," the company said in a statement.
Since 2008, BP has invested more than $750 million and created a distinctive capability set with roughly 300 staff to develop and license a leading cellulosic ethanol technology.
This decision will affect ligno-cellulosic activities including a demonstration plant in Jennings, La., USA, a technology center in San Diego, Calif., the Highlands feedstock farm in Florida, as well as some activities in Brazil and other South American countries. Pictured above: Cellulosic ethanol storage tanks at the BP/Verenium plant that opened with high hopes in 2008. After nearly seven years of successful production advancement at the pilot facility, it now has an uncertain fate.
