Novozymes’ New CEO Says Biofuels May Supply 90% of Revenue

 

According to Peder Holk Nielsen, CEO of Novozymes, the company gets approximately 16% of its revenue from biofuels and less than 1% from enzymes from cellulosic-ethanol plants.  While many countries have standards set for blending biofuel made from food crops, few have standards set to promote the production of cellulosic biofuel from their waste because of high production costs.  The enzymes needed to break down cellulosic material currently costs about 30 cents per gallon of fuel produced, however in countries where biomass is abundant it costs only $2 to produce a gallon of cellulosic ethanol.  Mr. Nielsen states that “cellulosic ethanol could be a total game-changer.”

 

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Tags: Biofuels & Energy