Wilmington, Delaware
June 20, 2006
DuPont and BP yesterday
announced the creation of a partnership to develop, produce and
market a next
generation of biofuels to help meet increasing global demand
for renewable transportation fuels.
DuPont and BP
have been working together since 2003 to develop advanced
biofuels with properties that can help overcome the limitations
of existing biofuels. That work has now progressed to the point
where they are able to bring the first product to market. The
companies' joint strategy is to deliver advanced biofuels that
will provide improved options for expanding energy supplies and
accelerate the move to renewable transportation fuels, which
lower overall greenhouse gas emissions.
The companies
are leveraging DuPont's world-class biotechnology and
bio-manufacturing capabilities with BP's fuels technology
expertise and market know-how. By pooling their knowledge and
expertise, the two companies aim to be the world leaders in the
development, production and growth of advanced biofuels, which
today account for less than 2 percent of global transportation
fuels. Current projections show that biofuels could become a
significant part of the transport fuel mix in the future -
possibly up to 30 percent in key markets.
Biobutanol - First Product to Market
The first product to market will
be biobutanol, which is targeted for introduction in 2007 in the
United Kingdom as a gasoline bio-component. DuPont and BP are
working with British Sugar, a subsidiary of Associated British
Foods plc, to convert the country's first ethanol fermentation
facility to produce biobutanol. Additional global capacity will
be introduced as market conditions dictate. A feasibility study
in conjunction with British Sugar is already under way to
examine the possibility of constructing larger facilities in the
UK.
"DuPont
firmly believes that biology will help us reduce our global
reliance on fossil fuels," said DuPont Chairman and CEO Chad
Holliday. "We are demonstrating how DuPont's unique scientific
capability provides solutions that are sustainable, renewable
and matched to real world needs. Biobutanol is just the
beginning of new solutions DuPont can offer to transform global
economies by improving our use of renewable ingredients and
natural processes to deliver products for a better, safer,
healthier world."
"BP has a
history of seeking, and delivering, ways to reduce greenhouse
gas emissions both from our own operations and from the products
we sell," said Lord Browne, chief executive officer of BP.
"Transportation is an important area to address since it
accounts for around 20 percent of global emissions and in the
short to medium term increased blending of bio-components
represents one of the few real options for progress in this area
on a global scale."
Both
companies recognize that while existing bio-components have
proven to be an excellent starting point for the introduction of
biofuels and will continue to play a major role in the future,
there are issues that need to be addressed to increase market
penetration. In particular, compatibility with existing fuel
supply and distribution systems, the ability to blend in higher
concentrations without requiring vehicle modifications, and fuel
economy were identified as areas where improvements are needed.
To read more
about DuPont/BP partnership, please go to:
www.bpdupontbiofuels.com |
