BP cancels Florida cellulosic project
October 26, 2012, Houston, TX — BP today abandoned plans for a commercial-scale cellulosic plant in Florida, saying the company would shift funding for the proposed 2,350 b/d facility to “other more attractive projects.”
October 26, 2012 By Argus Media
BP had proposed in 2008 developing the second-generation alternative fuel facility. While conventional, generally corn-based ethanol is blended into roughly 90pc of the US gasoline pool, federal policy calls for growing volumes of the biofuel blendstock to come from non-food sources.
But economic, commercial-scale production of cellulosic ethanol has proven a difficult task for the industry.
The company said it would continue to fund and operate a California biofuels research facility and a small demonstration plant in Louisiana, to develop technology it can license to other companies.
“Given the large and growing portfolio of investment opportunities available to BP globally, we believe it is in the best interest of our shareholders to redeploy the considerable capital required to build this facility into other, more attractive projects,” BP spokesman Geoff Morrell said.
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