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Chevron Becomes Part of Biofuels Venture

080606_chevron.jpgIn a move to speed the development of alternative fuels that don’t consume food crops, oil giant Chevron and timber behemoth Weyerhaeuser are setting up a joint venture called Catchlight Energy.  The companies said Friday the venture will pursue new technologies for converting cellulose and lignin – the compounds plants are made of – into biofuels.  Catchlight will initially have offices at Weyerhaeuser’s Federal Way, Wash., headquarters and at Chevron’s San Ramon, Calif., home base. Chevron executive Michael Burnside will be the new venture’s chief executive, and W. Densmore Hunter of Weyerhaeuser is chief technology officer.  Both firms will contribute technology and personnel. Catchlight may employ 30 to 40 people over time in its research and development effort, said Weyerhaeuser president Dan Fulton. Image Source: > Continue.

News selected by Covalence | Country: USA | Company: Chevron | Source: RedOrbit

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