Shell transfers Codexis stake to its biofuels JV in Brazil

02 June 2011 18:10  [Source: ICIS news]

HOUSTON (ICIS)--Shell has transferred its 15.7% stake in US biocatalysts firm Codexis to its Raizen biofuels joint venture with Brazil’s Cosan, Codexis said on Thursday.

As a result, Raizen, which began on Thursday, is now Codexis’ largest stockholder.

Codexis CEO Alan Shaw said having Raizen as a stockholder will offer opportunities to further develop and commercialise biofuels.

"With access to feedstocks and experience in ethanol production, Raizen has the potential to accelerate future commercialisation of renewable fuels," Shaw said.

In related news, Shell said on Thursday that Raizen also includes part of its interest in Canada’s Iogen, a company that uses enzymes to break down plant waste into ethanol.

A media official at Iogen’s headquarter in Ottawa did not immediately respond to a request for comment.

Raizen officials said in March that the joint venture would include Shell’s commercialisation rights to Iogen technology.

For more on Shell and other producers visit ICIS company intelligence

Doris de Guzman examines alternative processing, new technology, R&D and other sustainability initiatives in Green Chemicals

By: Stefan Baumgarten
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