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Article: ConocoPhillips and Archer Daniels Midland Company Announce Alliance to Develop Next-Generation Biofuels.
- Article from:
- Business Wire
- Article date:
- September 27, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HOUSTON & DECATUR, Ill. -- ConocoPhillips (NYSE:COP) and Archer Daniels Midland Company (NYSE:ADM) today announced that they have agreed to collaborate on the development of renewable transportation fuels from biomass.
The alliance will research and seek to commercialize two components of a next-generation biofuel production process:
* The conversion of biomass from crops, wood or switchgrass into biocrude, a non-fossil substance that can be processed into fuel; and
* The refining of biocrude to produce transportation fuel.
"ConocoPhillips believes that the development of next-generation biofuels is a critical step in the ...