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Hayward, California
June 13, 2007
Mendel Biotechnology, Inc.
("Mendel") and BP have entered into a collaboration to develop
biofeedstocks for the production of cellulosic biofuels. In
addition to funding the five-year biofuels research program, BP
will become a shareholder of Mendel with representation on
Mendel's Board.
Working with BP, Mendel aims to be at the forefront of seed
supply into the future energy grass seed market. Mendel has
already established a breeding program for perennial grass
variety improvement and will accelerate this program in
collaboration with BP. Mendel will establish breeding stations
in the Midwest and the Southeast United States, and accelerate
breeding collaborations with groups in Germany and China.
As the biofuel industry matures, new biofeedstocks will be
needed for the production of bio-derived molecules from the
entire carbohydrate portion of the plant. To ensure a consistent
supply of feedstocks to refineries, a new seed industry is
needed to provide farmers with high-yielding varieties, and a
new service industry is needed to ensure the delivery of
feedstocks to the refineries.
"We are excited to collaborate with BP in the development of
critical products for the biofuels value chain. While the new
seed and biofeedstock business will serve the needs of all
biofuel refineries, having a first committed collaborator is a
critical starting point." said Neal Gutterson, Mendel's
President and Chief Executive Officer. "BP has emerged as a
leader in alternative energies, including biofuels. We cannot
imagine a better party to collaborate with in developing our new
business."
"Mendel has demonstrated its excellence in plant science," said
Tony Meggs, Group Vice President of Technology at BP. "This
collaboration with Mendel is one example of BP's commitment to
the development of new technologies to enable the supply of new,
renewable energy sources."
Founded in 1997, Mendel
Biotechnology, Inc., a closely-held private company, has been a
pioneer in the application of functional genomics to the study
of plant genes. Mendel has identified and patented the use of
genes that control many aspects of plant growth and development,
and is using such inventions to develop or co-develop new plant
varieties with improved productivity and quality. Mendel has
relationships with leading agricultural, forestry and
horticulture companies for the commercialization of improved
seed and plant products, including Monsanto. Mendel is
developing new seed products for the emerging bioenergy market,
focused on seeds and feedstock products for the cellulosic
ethanol industry. |
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