BP, Martek Biosciences to Develop Biofuel Production

Aug. 11, 2009
Companies seek to advance the development of technology for the conversion of sugars into biodiesel

BP said on August 11 that it has signed a deal with Martek Biosciences to further develop biofuel production using sugar.

"BP and Martek Biosciences Corp. today announced the signing of a joint development agreement to work on the production of microbial oils for biofuels applications," the pair said. Under the multi-year agreement, the two groups will seek to "advance the development of... technology for the conversion of sugars into biodiesel."

Sugar is already used to make ethanol, a cheaper alternative to gasoline used to power road vehicles.

"As an alternative to conventional vegetable oils, we believe sugar-to-diesel technology has the potential to deliver economic, sustainable and scaleable biodiesel supplies, " said Philip New, CEO of BP Biofuels.

The price of sugar reached a 28-year high in New York trading last week after jumping 25% in three weeks in London trading.

Copyright Agence France-Presse, 2009

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