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Volkswagen, Daimler Invest in German Biofuel Company

October 22, 2007

FRANKFURT, Germany --- Automakers Volkswagen AG and Daimler AG have both decided to invest in a German biofuel firm, Choren Industries GmbH.According to the Wall Street Journal, the two companies will take a minority stake in the company "to speed up the broad market launch of the environmentally friendly synthetic biofuel of the second-generation BTL [biomass to liquid]," they said in a joint statement.Second-generation biofuels are made from wood, straw or plant stalks.Choren is building a biomass-to-liquid facility in Freiberg, Germany.
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