Shell expands biofuels agreement with Codexis

06 November 2007 17:07  [Source: ICIS news]

HOUSTON (ICIS news)--Royal Dutch Shell expanded its agreement with US enzyme producer Codexis, under which the companies would produce bioethanol and other biofuels from cellulose and other non-food sources, the refiner said on Tuesday.

Shell and Codexis signed the initial agreement last year, the companies said.

The new agreement extends the collaboration by five years, provides Shell a seat on Codexis' board and calls for an equity investment by Shell, an amount which was not disclosed.

Codexis, based in Redwood City, California, produces enzymes used to break down cellulose other non-food materials. The resulting product is then used to make biofuels.

It could be five to ten years before biofuels made by such processes would be produced in significant amounts, Shell said.

By: Al Greenwood
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