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BP and Verenium Announce Vercipia Biofuels to Advance the Commercialization of Cellulosic Ethanol

50-50 joint venture company building first commercial project in Highlands County, Florida

31 Jul 2009 - BP and Verenium Corporation announced that its 50-50 joint venture company will operate under the name Vercipia Biofuels, and plan to relocate its corporate headquarters to Florida. Vercipia continues to focus on the development of one of the nation's first commercial-scale cellulosic ethanol facilities, located in Highlands County, Florida. The company is also developing a second commercial-scale cellulosic ethanol site in the Gulf Coast region.
 
Since announcing the formation of the joint venture company in February, Vercipia has applied for and been selected to move forward with due diligence on a Department of Energy (DOE) Loan Guarantee for the Highlands project, which is now underway.