DuPont BioFuels Leader Provides Business Update to Investors
WILMINGTON, Del., Oct. 2 /PRNewswire-FirstCall/ -- Speaking today at an investor conference, DuPont Vice President & General Manager John Ranieri said the company's plans to bring its two advanced biofuels programs to market are on track and making significant technical progress toward the commercialization of biobutanol and the conversion of cellulosic feedstocks economically into biofuels.
"Biobutanol and cellulosic ethanol have the ability to transform the biofuels industry," Ranieri said. "Our flexible business models allow us to penetrate different geographies with the ability to convert various feedstocks to meet the significant global demand for biofuels."
The DuPont BioFuels business strategy is developing and commercializing an upstream biofuel technology to produce cellulosic ethanol that will use non-food energy feedstocks such as corn cob and switchgrass, and a downstream biofuel technology to produce biobutanol, a high-performance biofuel that can be delivered through existing gasoline distribution channels.
In May, DuPont announced a joint venture with Danisco to deliver low cost, sustainable cellulosic ethanol technology. In July, the DuPont Danisco Cellulosic Ethanol LLC joint venture announced a partnership with the University of Tennessee to build a pilot and demonstration facility for the cellulosic ethanol technology, groundbreaking scheduled later this month. Pilot production utilizing corn cob and switchgrass is expected to begin in 2009 with commercially viable economics by 2010.
Biobutanol blends can be transported using existing fuel infrastructure, have a higher blend value, provide fuel economy (miles per gallon) similar to unleaded gasoline and can be blended at a minimum of 16 percent concentrations without the need to modify vehicles. DuPont is jointly developing biobutanol with BP in a partnership first announced in 2006.
"We are on track to have a biobutanol pilot facility operational next year with the commercial biotechnology package complete by 2010 at economics comparable to grain ethanol," Ranieri said. "Once we are commercial with biobutanol we intend to combine our technologies to make biobutanol from non-food feedstocks."
DuPont (NYSE: DD) is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
Forward-Looking Statements: This news release contains forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in DuPont's filings with the Securities and Exchange Commission, particularly its latest annual report on Form 10-K, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions of countries in which the company does business; competitive pressures; successful integration of structural changes, including acquisitions, divestitures and alliances; research and development of new products, including regulatory approval and market acceptance, and seasonality of sales of agricultural products.
Biofuels fact sheet: http://vocuspr.vocus.com/VocusPR30/Newsroom/MultiQuery.aspx?SiteName=Dupont New&Entity=PRAsset&SF_PRAsset_PRAssetID_EQ=103404&XSL=MediaRoomText&PageTit le=Fact Sheet&IncludeChildren=true&Cache=False
DuPont Danisco Cellulosic Ethanol LLC: http://www.dupontdanisco.com
Pioneer Hi-Bred, a DuPont Company: http://www.pioneer.com/
Copyright©2008 PR Newswire.
All rights reserved