NEW YORK, Feb. 24, 2011 /PRNewswire/ -- DuPont (NYSE: DD) is uniquely positioned to deliver clean technology opportunities, including both advanced biomaterials and biofuels, DuPont Applied BioSciences President Craig F. Binetti told attendees at the Jeffries 11th Annual Clean Technology Conference.
"We are meeting the growing demand for reducing dependence on fossil fuels by harnessing the full innovation capabilities of our scientists and our partners," Binetti said. "This creates a powerhouse of industrial biotechnology and clean technology businesses with a goal of generating $1 billion in revenues and more than $250 million in earnings by 2015 from our extensive portfolio of renewable materials and fuel technologies."
DuPont estimates the biofuels industry worldwide will grow from a $50 billion opportunity today to a $75 billion opportunity by 2015. The company has ongoing efforts to develop both fuels from renewable non-food biomass, cellulosic ethanol, and a drop-in biofuel, biobutanol, that behaves similar to gasoline. DuPont Danisco Cellulosic Ethanol (DDCE) is the joint venture working to bring cellulosic ethanol technologies to market. Butamax™ Advanced Biofuels, LLC is the DuPont-BP joint venture tasked with commercializing biobutanol.
"Globally, approximately 600 new plants will be required in the next decade to meet the anticipated global demand for cellulosic biofuel, and we expect a significant share of these will use DDCE technology," Binetti said.
DDCE is focused on a commercialization model that includes licensing and selective participation in production of cellulosic ethanol. The licensing program includes a comprehensive package for cellulosic ethanol production that includes licensed technology, plant design, start-up, training and ongoing technical support. This joint venture is in the final preparations for site selection for its first commercial facility, which will be located in Iowa.
"Biobutanol is a unique fuel that can be made from renewable resources as efficiently as ethanol and has advantages in refining, blending and distribution. Biobutanol is a retrofit technology which can be applied to existing grain and sugarcane ethanol facilities to upgrade the value of their output," Binetti said. "The Butamax™ joint venture has focused initial commercial development on corn and sugarcane based ethanol plants. There are more than 200 grain based ethanol plants and more than 400 sugarcane ethanol plants globally.
"While ethanol and biobutanol each have the potential to add value to the global biofuels market, a three-component blend of ethanol-biobutanol-gasoline has significant advantages as well," Binetti said. "We are positioning ourselves so we are advantaged when the rapid growth occurs in advanced renewable fuels over the next decade."
DuPont has an extensive biomaterials portfolio that ranges from renewably sourced monomers and polymers, such as Bio-PDO™ and Sorona® to Omega-3 fatty acids and advanced biomedical materials. Recent business developments include a 35 percent capacity expansion for Bio-PDO™ at the DuPont Tate & Lyle Bio Products joint venture which will be online in 2011. In addition, the European Union this week approved the formation of the Actamax Surgical Materials, LLC.
"Our Biomaterials portfolio is a unique combination of market-based initiatives," Binetti said. "Our products have superior performance, are cost effective and are renewable, giving us the opportunity to penetrate large addressable markets in flooring, apparel, automotive and packaging."
For more than 15 years, DuPont has been developing integrated science to produce a new category of bio-based materials called DuPont™ Renewably Sourced™ Materials. These products are high-performance, bio-based materials and biofuels that are made, in whole or in part, from renewable agricultural feedstocks such as corn, soybeans, sugar cane and wheat, rather than petroleum. In the future, DuPont also hopes to make these materials from cellulosic feedstocks from fast growing energy crops, such as grasses, and agricultural byproducts, such as corn stalks. For more information, visit www.renewable.dupont.com.
DuPont (www.dupont.com) is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 90 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
Forward-Looking Statements: This news release contains forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by DuPont, particularly its latest annual report on Form 10-K and quarterly report on Form 10-Q, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and development of new products, including regulatory approval and market acceptance; seasonality of sales of agricultural products; and severe weather events that cause business interruptions, including plant and power outages, or disruptions in supplier and customer operations. The company undertakes no duty to update any forward-looking statements as a result of future developments or new information.
The DuPont Oval Logo, DuPont™, The miracles of science™, Bio-PDO™, Sorona® and DuPont™ Renewably Sourced™ Materials are registered trademarks or trademarks of DuPont or its affiliates.
Butamax™ is a trademark of Butamax™ Advanced Biofuels LLC, a BP-DuPont joint venture.