The BP Group announced last week it had canceled its plans to build a cellulosic ethanol plant located in Highlands County, Florida to refocus its strategy on research and development of biofuels and Marketing license its technology.
“Given a portfolio of investment opportunities available worldwide we believe it is in the interest of shareholders to redeploy the considerable amount that would have been required in other more interesting projects,” said Geoff Morrell, Vice President Communications at BP.
In 2008, BP announced its plans to build an ethanol plant in Florida with the desire to transform thousands of acres of energy crops, some 135 million gallons of cellulosic ethanol per year.
Even if the British company has decided to close its episode of cellulosic ethanol production in the United States, it continues to invest in biofuels unit in San Diego, California, as well as a demonstration plant in Jennings, in Louisiana to develop the next generation of cellulosic ethanol.
In addition, BP said it had completed the construction of its ethanol plant in Hull, England, an annual production capacity of 415 million liters, which should enter service later this year. Then, in Brazil, BP acquired in 2011 3 factories based ethanol from sugar cane Etas located in Goiás and Minas Gerais. Finally, the company develops its technology advanced biofuels with an investment in the joint venture Butamax biobutanol.