Biotech Enzymes Can Make Ethanol Cost-Competitive With Gasoline
WASHINGTON, May 9 /PRNewswire/ -- The U.S. Department of Energy last
week reported that gasoline prices had topped $3.00 per gallon in some
regions of the United States. Reacting to the announcement, Biotechnology
Industry Organization (BIO) President & CEO Jim Greenwood said, "American
drivers today face record-high fuel prices as worldwide demand for oil
continues to outpace petroleum production and refining capacity. Even
higher gasoline prices are possible this year, according to the U.S.
Department of Energy. If America is to deal with the problem of high fuel
prices, we must develop and scale up a less expensive domestic fuel supply,
and ethanol is the best, most readily available solution. Most people are
not aware that biotechnology now offers ways to dramatically increase
ethanol production and bring down fuel prices."
Ethanol from corn currently contributes over 4 billion gallons to the
fuel supply every year. And under the renewable fuel standard mandated in
last year's energy bill, ethanol production will double in the next few
years. "Agricultural biotech is helping farmers increase corn yields so we
can make more ethanol. Added to that, industrial biotech companies are
developing new enzymes that will make current ethanol processes more
efficient. But we need to produce much more than 8 billion gallons of
ethanol if we are to lower fuel prices, end our addiction to oil, and
enhance our energy security. We could produce more than 70 billion gallons
of ethanol or more each year if we use the entire corn plant as well as
other crop residues and dedicated energy crops," Greenwood continued.
"Agricultural crops and plant matter containing cellulose are an
untapped reservoir of energy that is abundantly available throughout the
United States. Our industrial biotech companies are working with nature to
produce new enzymes called cellulases that can convert this cellulose to
sugars that can then be fermented into ethanol. This is a dramatic
scientific breakthrough for the ethanol industry," said Greenwood.
According to published reports, advances in biotechnology now make
production of ethanol from cellulose cost-competitive with gasoline. One
recent study shows that biotech processes already being used today could
produce ethanol from cellulose for less than $1.60 a gallon compared to
refined petroleum currently selling for as much as $2.60 per gallon.
Improvements to the process through research and development underway
coupled with expanded production promise to reduce the cost of ethanol from
cellulose to below 90 cents per gallon, according to a Natural Resources
Defense Council report. For every one-cent reduction in the cost of
producing ethanol, American drivers would keep $1 billion in their pockets.
"There is enormous potential for ethanol from all feedstocks to reduce the
cost of a fill-up for consumers and replace petroleum in transportation
fuel," said Greenwood.
Brent Erickson, BIO Executive Vice President, Industrial &
Environmental Section, stated, "We need to begin building modern
biorefineries that use industrial biotechnology to produce ethanol from
cellulose. These biorefineries can also make green plastics and renewable
chemicals from grain or other plant matter. We need to produce all the
ethanol we can and by converting a larger share of our agricultural biomass
resources to ethanol we can ensure that Americans have access to a stable
supply of less-expensive transportation fuel over the long term. Farmers
will benefit and consumers will benefit if we start building biorefineries
now that can convert cellulose to ethanol.
"Last year's energy bill contained several incentives to help jumpstart
the construction of biorefineries and quickly reach production levels
necessary to meet America's growing need for transportation fuels. But more
needs to be done if Congress and the administration intend to hurry a
future where consumers pay less for transportation fuel. We need to start
by fully funding the President's advanced energy initiative and then follow
up with new aggressive policies that move us beyond research to
commercialization of advanced biorefineries in all regions of the country."
BIO represents more than 1,100 biotechnology companies, academic
institutions, state biotechnology centers and related organizations across
the United States and 31 other nations. BIO members are involved in the
research and development of healthcare, agricultural, industrial and
environmental biotechnology products.
SOURCE Biotechnology Industry Organization
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Related links:
http://www.bio.org/
CONTACT:
Paul Winters of Biotechnology Industry
Organization, +1-202-962-9237
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