DuPont continues the drive toward renewable energy with biofuel produced from non-food sources

Fresh off a successful panel discussion on "Fuelling the Future" at the World Economic Forum in Sharm El Sheikh held on May 18-20, the internationally-renowned science company recently announced a joint-partnership agreement to develop and commercialize the leading, low-cost technology solution for the production of cellulosic ethanol, a next generation biofuel produced from non-food sources.

"With food and gas prices surging at double-digit rates, there is an imperative for sustainable biofuels technologies. This joint venture addresses this issue head on," said DuPont Chairman and CEO Charles O. Holliday, Jr. "By integrating our companies' strengths and expertise in this new venture, we are significantly increasing the potential to make cellulosic ethanol from multiple non-food sources an economic reality around the world."

The biofuel industry is a $75bn global market opportunity. DuPont's agreement with one of the world's leading companies in the industrial biotechnology sector will give each entity a 50/50 stake in the global joint venture.

The partners plan an initial three-year investment of $140m for the development and deployment of second generation ethanol from non-food feedstocks.

"This joint venture will be a powerhouse of discovery, development and engineering, clearly in line with DuPont's 2015 Sustainability Goals,"

said Khaled El-Dessouky, Country Manager DuPont Egypt and North Africa Growth Leader. "This agreement represents a major step forward to assess viable options for sustainable energy and generate revenues from non-depletable resources, which are only two of the numerous commitments DuPont has made to ensuring a better, more sustainable future for everyone."

As testament to the company's long-standing commitment to improving the environment, this month DuPont - one of the first companies to publicly establish environmental goals 18 years ago - received five awards from the American Chemistry Council (ACC), all focused on the company's energy conservation efforts.

DuPont has broadened its sustainability commitments to include market-driven targets for both revenue and research and development investment. The goals are tied directly to business growth, specifically to the development of safer and environmentally improved new products for key global markets.

DuPont has been operating in Egypt since 2000 with the opening of its office in Maadi, and the company today has nine active business units in Cairo. DuPont's presence in the country and its growing local team demonstrate the company's solid involvement in the Egyptian market and its commitment to bringing Egypt up-to-date with the world's most innovative science developments.