07 March 2012 20:09 [Source: ICIS news]
HOUSTON (ICIS)--US-based acetyls producer Celanese will seek out partnerships to market its fuel ethanol, an executive said on Wednesday.
Celanese said its process costs less than bio-based production, on which most of the world relies.
In 2013, Celanese plans to start ethanol production in China, using coal as a feedstock.
Initially, Celanese plans to target the industrial ethanol market, since many of the customers also buy its acetyls, said John Fotheringham, Celanese senior vice president and general manager of advanced fuel technologies.
Fotheringham made his comments on the sidelines of the IHS CERAWeek energy conference.
He estimates that the industrial ethanol market is worth about $5bn (€4bn).
However, Celanese is also eying the fuel ethanol market, which is worth $50bn-70bn, he said.
While Celanese plans to produce fuel ethanol, it is seeking partnerships with other companies to market its fuel ethanol.
"We'll stay within our focus and expertise, which is technology and manufacturing," Fotheringham said.
CERAWeek ends on Friday.
($1 = €0.76)
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