JV to develop methane-based fermentation
14 Feb 2003
DuPont and Statoil are to form a joint venture to further develop their bio technology businesses.
Norferm, a Statoil subsidiary, has already developed a bio-based technology that it is using to produce protein products under the brand BioProtein for the fish farming market at its methane-based fermentation facility in Tjeldbergodden, Norway. DuPont has also developed bio-based technologies at its Central Research & Development facilities in Wilmington, Delaware that use methane as a raw material for high-value products.
As part of the joint venture, Statoil will contribute the operations of its Norferm production facility and DuPont will support research to further develop products that can be produced at the Tjeldbergodden plant.
The joint venture, to be called Norferm AS, will focus on developing new products for the animal feed markets and fermentation industry. DuPont will market and sell the products developed by the JV.
Norferm AS will be based in Stavanger, Norway, with research and development facilities located in Odense, Denmark, and Wilmington.
The joint venture expects to be operational in the second quarter of 2003, subject to customary European Union approvals.
