Reliance on biofuels to increase
October 12, 2008 Posted by: Paul Lucas
The debate as to whether biofuels are a viable environmental alternative is likely to rage for some time yet. However, according to BP, one thing is certain - our reliance on this alternative fuel is likely to increase in the future.
BP assessments suggest that biofuels could account for between 11 and 19 per cent of the transport fuel market by 2030 and this could rise up to 30 per cent if the industry can address some of the problems surrounding the fuel such as feedstock, technology and land issues.
If a quantity of 600 billion litres of biofuels is to be reached by 2030, there will need to be aggressive progress in the area of cellulosic biofuels according to Susan Ellerbusch, VP Global Biofuels for BP.
The company formed a biofuels group back in 2006 and has made around $1 billion worth of investments.
It is taking a three tier approach to the fuel. The first step is to make first generation ethanol “better”, with the focus on sugarcane ethanol which has a superior greenhouse gas emissions balance.
The second is to focus on advancing technology molecules such as biobutanol. The partners have been able to show that 16 per cent blend rates with biobutanol competes with a 10 per cent blend rate with ethanol.
Finally the company is focusing on advancing lignocellulosic biofuels with biochemical fermentation its pathway of choice. Earlier this year BP made a $90 million investment in Verenium and formed a strategic partnership to accelerate the development of cellulosic ethanol.
BP is also investing around $500 million over 10 years into the Energy Biosciences Institute to focus on renewable biofuels from existing and new crop plants.
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