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BP & Verenium Cellulosic Ethanol JV to Operate as Vercipia Biofuels

The BP and Verenium Corporation 50-50 cellulosic ethanol joint venture announced earlier this year (earlier post) will operate under the name Vercipia Biofuels, and plans to relocate its corporate headquarters to Florida.

Vercipia continues to focus on the development of a commercial-scale cellulosic ethanol facility located in Highlands County, Florida. The company is also developing a second commercial-scale cellulosic ethanol site in the Gulf Coast region.

Since announcing the formation of the joint venture company in February, Vercipia has applied for and been selected to move forward with due diligence on a Department of Energy (DOE) Loan Guarantee for the Highlands project, which is now underway. In addition, the team has continued to advance development activity in Florida and on the second site in the Gulf Coast region.

Vercipia plans to break ground on its first commercial plant in Highlands County, Florida in 2010.

Comments

ejj

This is such good news for Florida...they desperately need a meaningful industry, other than development, on which to base their economy or at least diversify. One problem is with the water needed to irrigate these projects - South Florida is loaded with complex water issues...hopefully they will be able to figure it out & get a massive pipeline of these projects to save Florida from being completely paved over into ghettos and barios - the only way to do that is to make the land more valuable for agriculture than for development.

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