Verenium (VRNM) Begins Joint Venture With BP (BP) But Puts New Plant On Hold

Verenium and BP are moving forward on a joint venture to produce cellulosic ethanol. However, even with the $45 million investment dollars that Verenium gained as part of the deal, Earth2Tech reports that Verenium will still have to put its proposed cellulosic ethanol plant on hold. The company had originally expected to begin construction this year, but now expects to start work on the plant in 2010 instead.

Here are some of Earth2Tech’s comments on the news:

While a several month-long delay isn’t a big deal, all of the cellulosic ethanol makers have been racing to be the first to build commercial plants in the U.S., so this push back could put the company behind competitors.

Cellulosic ethanol maker Range Fuels is expected to be building the first commercial cellulosic ethanol plant in the U.S. later this year. In this morning’s release, Verenium calls its first plant “one of the nation’s first commercial-scale cellulosic ethanol facilities.”

One thought on “Verenium (VRNM) Begins Joint Venture With BP (BP) But Puts New Plant On Hold”

  1. I have been reading every thing i can out there on alternative energy. I feel this is the best place to invest in. I must be honest though that some of the comments i read are very confusing because one person will say one thing and the next person another. Who do you believe? I am looking for some real honest truth on companies and the developments of alternative energies. I am a beginner at investing and it is important that the information I am reading is accurate and trustworthy. It would be helpful if the people who are making comments to the articles published try to be a little more helpful in there posted comments rather than miss leading the readers. thanks for all the information. Any good ideas on companies to invest in please pass them on.

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