( ConocoPhillips will establish an eight-...)ConocoPhillips establishes $22.5M biofuels research program at Iowa State

ConocoPhillips will establish an eight-year, $22.5 million research program at Iowa State University dedicated to developing technologies that produce biorenewable fuels. The grant is part of ConocoPhillips' plan to create joint research programs with major universities to produce viable solutions to diversify America's energy sources.

ConocoPhillips will make an initial $1.5 million grant in 2007 to support Iowa State researchers, with additional grants of $3 million per year for seven years.

Biorenewable fuels are produced from organic materials and help reduce pollution and greenhouse gas emissions while diversifying the energy supply. Conventional biorenewable fuels include ethanol from corn starch and biodiesel from soybean oil. Advanced biofuels are expected to be made from fibrous biomass such as the stalks and leaves from corn plants and switchgrass.

"I'm pleased Iowa State University and ConocoPhillips will partner to research and develop new technologies for producing biofuels," said Iowa Gov. Chet Culver. "These kind of public-private partnerships are an important part of my plan to fuel Iowa's future. Private sector investments will be the driving force behind the development of new industries and technologies, and I'm encouraged that Iowa State and ConocoPhillips are working together to create the right research programs for our state's energy future."

"We believe the key to a secure energy future is the efficient and effective use of a diverse mix of energy sources," said Jim Mulva, chairman and chief executive officer of ConocoPhillips. "ConocoPhillips is developing long-term relationships with respected academic institutions such as Iowa State to research extensions of traditional energy sources that ultimately will benefit consumers."

"We are excited to work with ConocoPhillips to develop a research program that applies Iowa State University's strengths in renewable energy," said Iowa State President
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Source:Iowa State University

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