The Car and Truck Fleet and Leasing Management Magazine

Verenium and BP Extend Ethanol Program

March 02, 2010

CAMBRIDGE, MA - Verenium Corp., a developer of cellulosic ethanol and specialty enzymes, said it has extended its joint development program with partner BP for an additional month until April 1 of this year. 

The program was launched in August 2008. 

BP and Verenium will continue their ongoing joint development work to accelerate the development and commercialization of cellulosic ethanol, while the two parties continue negotiations for a longer-term collaboration. Verenium will receive an additional $2.5 million from BP to co-fund the cellulosic ethanol program for the month of March. 

"Both Verenium and BP remain committed to advancing our cellulosic ethanol technology and agreeing on an appropriate structure for doing so," said Carlos A. Riva, president and CEO at Verenium.

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