BP and Martek Biosciences Corporation have signed a deal to develop an advanced biodiesel from sugars.
The agreement will use Martek’s ability to work with microbes and BP’s large-scale capabilites:
“Martek is pleased to partner with BP’s Alternative Energy team, to combine our unique algae-based technologies and intellectual property for the creation of sustainable and affordable technology for microbial biofuel production,” said Steve Dubin, Martek CEO. “BP’s global leadership and commitment to alternative energy solutions complements Martek’s own commitment to responsible and sustainable products and production.”
“BP is very pleased to be entering this important partnership with Martek,” says Philip New, CEO BP Biofuels. “As an alternative to conventional vegetable oils, we believe sugar to diesel technology has the potential to deliver economic, sustainable and scaleable biodiesel supplies. In partnering with Martek, we combine the world’s leading know-how in microbial lipid production with our expertise in fuels markets and applications, and our more recent experience in biofuels production and commercialization.”
The technology has been demonstrated in Martek’s field for more than 20 years and the challenge is to adapt this technology to the needs of the biofuels market, in terms of product profile and economics.
Philip New added, “This technology is also a perfect fit with our other strategic choices for biofuels, all based on sustainable feedstocks and fermentation to produce advanced biofuels. It is part of our approach of integrating sugar cane and lignocellulosic biofuels with advanced technologies to produce products with a wide range of uses.”
BP is contributing $10 million in capital to the project.