Verenium, BP Form Biofuel Joint Venture, Plan Cellulosic Ethanol Plant in Florida

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Researched by Industrial Info Resources (Sugar Land, Texas)--Verenium Corporation (Cambridge, Massachusetts) and oil giant BP plc (NYSE:BP) (London, England) have formed a 50:50 joint venture, Vercipia Biofuels, and are planning one of the nation's first commercial-scale, cellulosic-based ethanol plants that will be located in Highlands County, Florida.

The Highlands project is expected to produce 36 million gallons per year of fuel ethanol from energy cane and forage sorghum feedstocks. The company has entered a long-term supply agreement with Lykes Brothers Incorporated (Tampa, Florida) to provide the second-generation feedstock supply.

The plant will be located off State Road 70 in Highlands County, roughly 18 miles southeast of Lorida. Official groundbreaking is scheduled for mid-2010, and Vercipia expects the plant to be operational by the first quarter of 2012.

Cost estimates for the plant are in the $300 million range.

Industrial Info's Ethanol Database provides a comprehensive outline of all current development activities in the emerging alternative fuels market. This database covers 192 ethanol plants in operation and 530 plants under development. It also covers 141 operational biodiesel plants and 245 biodiesel plants under development.

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