Tag Archives: cellulosic biofuel

BP Purchases Verenium’s (VRNM) Cellulosic Biofuel Biz

Shares of Verenium (VRNM) nearly doubled at the open this morning before giving much of it back after it was announced that BP would purchase their cellulosic biofuels business for $98 million which includes facilities in Jennings, LA and San Diego, California.  Verenium retains its commercial enzyme business and retains the right to develop its own cellulosic enzyme program, select R&D capabilities and access to select biofuel technology developed by BP.

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