Novozymes teams up with Cofco, Sinopec

Danish biotech company Novozymes said it is banking on the rapid growth of China’s bioenergy industry to boost its portfolio in the country, Novozymes’ second-largest overseas market. The company has teamed up with the country’s leading agricultural products manufacturers, Cofco Group and Sinopec, to build a second-generation bioethanol demonstration project, which Novozymes will supply with enzymes. The cellulosic biofuel project, which develops ethanol from corn stover, is different from first-generation projects, which turn crops like corn and sugarcane into fuel. Construction of the project is expected to start next year. (September 9, 2010)