Cellulosic ethanol maker Verenium gets $90M investment from BP

Verenium, a Cambridge, Mass. biofuel maker, has formed a partnership with oil giant British Petroleum and taken on a $90 million investment from the latter company to develop its cellulosic ethanol process.

Under the deal, BP will have access to Verenium’s technology if it wishes to build its own production plants, and will also fund further research.

Although Verenium is publicly traded, it is a competitor to quite a few private companies working on cellulosic ethanol, including Coskata, Mascoma and Range Fuels.

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