Biofuel Partnership Expanded

April 2, 2003 [] Diversa Corporation has entered into a six-year alliance with DuPont to discover and develop novel biocatalysts for the production of fuel ethanol, 1,3 propanediol, and other added-value chemicals from renewable resources such as corn and biomass. As the leader of a grant consortium to develop a biorefinery capable of producing high-value chemical products from biomass, DuPont will receive US$19 million in matching funds from the U.S. Department of Energy over four years. Diversa will collaborate with DuPont on the biorefinery grant and will receive research funding, as well as milestone payments and royalties on any new products developed under the six-year collaboration. Under this broad agreement, Diversa and DuPont may also agree to collaborate on additional projects.
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