Ceres Inc. (NASDAQ: CERE) develops and sells crops that are used to produce feedstocks for the US biofuel industry. The company’s customers include ethanol makers, farmers, utilities, and independent power producers. The company and its Welch partner, Aberystwyth University, have completed the first comprehensive genetic map of a plant called miscanthus. The new map promises to shorten the time needed to develop crops with maximum energy potential.
Miscanthus is already used in Europe to produce biofuel, but in small quantities. The full genetic map developed by Ceres will speed up the development of different varieties of miscanthus.
Ceres, which came public only in late February, is up more than 18% today at $18.03 after posting a new post-IPO high of $18.70 earlier this morning.
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