News International Sugar Journal

BP cancels plans to build a cellulosic ethanol plant in USA [Registered]

BP recently announced today it is cancelling plans to build a $300 million commercial-scale cellulosic ethanol plant in Highlands County, Florida and focus on “more attractive projects” according to the statement released on its website. BP doesn’t plan to build any commercial cellulosic ethanol facilities on its own, and will now focus its U.S. biofuel efforts on research and development and licensing its technology, Matt Hartwig, a spokesman, told Bloomberg. “Ethanol is not something a lot of people are interested in investing money in,” Mark Schultz, an analyst at Northstar Commodity Investment Co. in Minneapolis, told Bloomberg recently. “Corn-based ethanol…

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