BP Biofuels honoured
BP’s biofuels business has been voted 2009 Biofuels Corporation of the Year by the World Refining Association at its 4th annual Biofuels Conference
BP Biofuels has been voted 2009 Biofuels Corporation of the Year by the World Refining Association at its 4th annual Biofuels Conference.
This is the first time the award has been made, and it recognises the corporation that has done the most to progress and support the development of the biofuels industry globally. BP Biofuels was elected as the first recipient of the award by more than 350 biofuels industry players, regulators and policymakers and related associations, and was endorsed by the Advisory Board of the World Refining Association.
Estimates suggest that biofuels will account for up to 20% of the road transport fuel market by 2030 - with some analysis suggesting the figure could be significantly higher. BP is playing an increasingly significant role in this burgeoning industry and has a very clear strategy: to grow a material sugar cane ethanol business in Brazil, build a cellulosic biofuel business in the US to produce fuels from non-food feedstocks and develop advanced molecules like biobutanol.
In order to achieve all three objectives, BP Biofuels has developed a number of key partnerships. In the US, it is working with Verenium Corporation in the development of new technologies to extract sugars from dedicated energy grasses. Together with DuPont, the business is building a technology demonstration plant in Hull, UK, to produce biobutanol. And in 2008 it took a 50% stake in Tropical BioEnergia creating a joint venture with Brazilian companies Santelisa Vale and Maeda Group.
And with Tropical celebrating its first year of production, the World Refining Association award tops off a successful period of growth for BP Biofuels. "Peer recognition is an especially valuable tribute," says Phil New, chief executive of BP Biofuels in a message thanking the biofuels team for their contribution to winning the award. "We are building what we believe can be one of the world's pre-eminent biofuels companies. This is one step on the way."
Find out more about BP Biofuels on their website here:
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