BP to acquire Verenium’s cellulosic biofuels business for $98.3 million

Biofuels Digest
July 15, 2010 Jim Lane

BP and Verenium (VRNM) announced an agreement for BP Biofuels North America to acquire Verenium’s cellulosic biofuels business, including the Verenium’s facilities in Jennings, LA and San Diego, CA for $98.3 million.

Verenium will retain its commercial enzyme business, including its biofuels enzymes products and have the right to develop its own lignocellulosic enzyme program. Verenium will also retain select R&D capabilities, as well as rights to access select biofuels technology developed by BP using the technology it is acquiring from Verenium through the agreement.

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