BP has agreed to contribute up to $10 million to this initial phase of the collaboration which leverages Martek's significant expertise in microbial oil production and BP's production and commercialization experience in biofuels as the platform for the joint development effort. Martek will perform the biotechnology research and development associated with this initial phase, whilst BP will contribute to its integration within the biofuels value chain. All intellectual property owned prior to the execution of the JDA will be retained by each respective company, and all intellectual property developed during the JDA will be owned by BP, with an exclusive licence to Martek for application and commercialization in nutrition, cosmetic and pharmaceutical applications. Additionally, each party is entitled to certain commercial payments from technology commercialized in the other party's field.
Sugar to Biodiesel
The sugar to biodiesel pathway uses advanced biological science to convert sugars derived from biomass into lipids using unique fermentation micro-organisms; the lipids are then converted into fuel molecules through chemical or thermocatalytic processes.
Biodiesel produced from sustainable feedstocks via the fermentation of sugars will offer the potential to deliver greenhouse gas emission reductions of up to 80-90% when compared to traditional fossil fuel. Other advantages of this sugar to biodiesel pathway over conventional biodiesel made from vegetable oils include:
|SOURCE Martek Biosciences Corporation|
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