Valero Invests $50 Million In Cellulosic Ethanol Plant
U.S. oil refiner Valero Energy Corp will invest up to $50 million in a plant that will produce ethanol from wood, a major mainstream backing for the emerging technology. The investment in venture capital-backed Mascoma Corp includes a deal for Valero to purchase the facility's 40 million gallons of cellulosic ethanol, the companies said on Thursday in a joint statement.
Publication Date:
14/01/2011