BP first global energy company to become BIO member
Thursday, June 15, 2006
Biotechnology Industry Organization (BIO) President & CEO Jim
Greenwood today announced that global energy group BP has become the
first fully integrated energy company to become a member of BIO.
"BP joins a growing list of forward-looking companies in BIO's
Industrial and Environmental Section, all of whom recognize the key
role industrial biotechnology will play in transforming how we
produce fuels and consumer products in the 21st century. BIO's
Industrial and Environmental Section member companies are all
committed to renewable energy production and sustainable industrial
development and they recognize industrial biotechnology is a key
driver for a cleaner, greener and more secure future," Greenwood
stated.
"BP is the first major integrated energy company to join BIO,
signaling an important shift in fuels production that will couple
biotechnology with the use of renewable agricultural feedstocks.
Twenty years of research in genomics, proteomics and bioinformatics
is now paying off, and industrial biotechnology is the enabling
technology behind this shift," Greenwood continued.
Steve Koonin, BP's Chief Scientist said: "BP and its more than
100,000 employees operating across some 100 countries are pleased to
become members of the Biotechnology Industry Organization. We have
joined because we believe that biotechnology will be an important
route to new sources of secure and sustainable energy in the coming
decades. We are investing substantially in alternative energy and
have just launched a dedicated biofuels business to exploit advances
in the biosciences -- it will be a very exciting part of BP's
future."
BP's membership in BIO follows their announcement today of a $500
million investment to establish an Energy Biosciences Institute, as
part of its continuing drive to find longer term commercial
alternatives to oil and gas. This research institute will add to
BP's investment in alternative energy and sustainable development,
which already includes introduction of E10 at its fueling stations
throughout the world and production of ethanol.
Brent Erickson, executive vice president of BIO's IES,
stated: "Industrial biotechnology has reached a tipping point as
biological processes add tremendous value to industries utilizing
biotech processes to make fuels and chemicals. BP's membership in
BIO is a clear sign of the importance of biotech as an enabling
technology. Renewable energy and chemical production is now leading
the way in this new industrial revolution that is based on evolution
and prevention of pollution."
BIO's Industrial and Environmental Section (IES) is one of four
sections within BIO's governance structure; the others are Health,
Food and Agriculture, and Emerging Companies. The IES comprises
companies that develop and utilize biotech-improved microbes or
enzymes to convert agricultural crops and crop residues to biofuels,
biocatalysis to produce a host of chemical and industrial goods, and
enzymes for cleaner manufacturing processes.
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.
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