Royal Dutch Shell plc (NYSE: RDS-B) and Iogen Corporation announced Tuesday an extended commercial alliance that will accelerate their development and deployment of cellulosic ethanol.
This includes a significant investment by Shell in technology development with Iogen Energy Corporation, a jointly owned development company dedicated to the advancement of cellulosic ethanol. This new arrangement will also see Shell increasing its stake in Iogen Energy Corporation from 26.3% to 50%.
Shell first took an equity stake in Iogen back in 2002. Iogen’s first demonstration commercial plant opened in Ottawa in 2004.
Shell noted that this is a key part of Shell’s strategic program in biofuels, particularly in ‘next generation’ biofuels using non-food feedstocks. The cellulosic ethanol fuel is made from raw materials such as wheat straw and is made to reduce CO2 emissions far lower than conventional gasoline.
As far as the terms of this investment, the figures were not offered other than the stake in percentage terms. Shell is also considering investing in a full-scale commercial cellulosic ethanol plant and is contributing to Iogen’s detailed feasibility and design assessment work.
Jon C. Ogg
July 16, 2008
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