06 November 2009 18:45 [Source: ICIS news]
However, Shell would continue to provide technical expertise to CHOREN, which is developing second-generation biofuels, it said.
All parties had agreed not to disclose any “information on the general business-related background to this transaction”, it added.
Media officials at the firm’s German head office in ?xml:namespace>
According to CHOREN, its remaining shareholders, which include carmakers Daimler and Volkswagen, remained committed and were planning to raise money to finance more projects.
CHOREN last year opened a €100m ($167m) biomass-to-liquids (BTL) plant, described as the world's first commercial BTL facility.
In August, Shell sold its 50% stake in a German photovolatic joint venture to partner Saint-Gobain
($1 = €0.67)
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