WASHINGTON, Oct. 18 /PRNewswire/ -- Jim Greenwood, president & CEO of
the Biotechnology Industry Organization (BIO), announced today that Chevron
Technology Ventures LLC, a wholly owned subsidiary of Chevron Corp., has
become a member of BIO. "Chevron Technology Ventures joins a growing list
of forward-thinking members in BIO's Industrial and Environmental Section
who are working to transform how we produce fuels and consumer products in
the 21st century. BIO's member companies all recognize that industrial
biotechnology is a key driver for a cleaner, greener and more secure
future," Greenwood stated.
"As part of a major integrated energy company, Chevron Technology
Ventures' membership in BIO signals that industrial biotechnology has
reached a tipping point. Biotechnology holds the keys to making biofuels
and bioproducts cost-effective through the development of new feedstocks,
novel enzymes, and fermentation technology. Reducing dependence on
traditional fuel sources and lessening environmental impacts are important
to America's future economic growth and competitiveness," Greenwood
continued.
Chevron Technology Ventures has recently announced strategic
collaborations with the National Renewable Energy Laboratory and with the
University of California Davis to research and develop next-generation
production technologies for biofuels. Chevron Technology Ventures
previously this year outlined an alliance with the state of California and
Pacific Ethanol to study the use of E85 in state-owned vehicles as well as
a collaboration with The Georgia Institute of Technology aimed at making
cellulosic biofuels, biodiesel and hydrogen viable transportation fuels.
Brent Erickson, executive vice president of BIO's Industrial &
Environmental Section, said, "Chevron Technology Ventures' membership in
BIO signals an acceleration in interest in biofuels by major energy
companies. BIO supports the production of ethanol from all feedstocks.
Agricultural biotechnology is helping to increase corn yields, while
industrial biotechnology is helping to convert cornstarch and crop residues
into ethanol more efficiently. With ongoing advances in biotechnology,
biofuels can help the world meet its growing energy needs. Biofuels can
help America meet nearly half its transportation-fuel needs by the middle
of this century."
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. http://www.bio.org
Upcoming Events
BIO CEO & Investor Conference 2007
Feb. 12-14, 2007 New York City
2007 World Congress on Industrial Biotechnology and Bioprocessing
March 21-24, 2007 Orlando, Fla.
BIO International Convention
May 6-9, 2007 Boston
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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