Houston Business Journal, TX
04-10-07
ConocoPhillips to launch biofuels program at Iowa State University
ConocoPhillips Co. is giving a grant to Iowa State University to establish an
eight-year, $22.5 million research program to produce biorenewable fuels
technologies.
The grant is part of the Houston-based petroleum company's plan to create joint
research programs with major universities to produce solutions to diversify
America's energy sources.
ConocoPhillips (NYSE: COP) said it will make an initial $1.5 million grant in 2007
to support Iowa State researchers, with additional grants of $3 million per year for
seven years.
Biorenewable fuels are produced from organic materials and help reduce
pollution and greenhouse gas emissions while diversifying the energy supply.
Conventional biorenewable fuels include ethanol from corn starch and biodiesel
from soybean oil. Advanced biofuels are expected to be made from fibrous
biomass such as the stalks and leaves from corn plants and switchgrass.
ConocoPhillips will fund research to understand and support environmental
sustainability and rural economies. Studies will emphasize crop improvement and
production, the harvesting and transportation of biomass, and the impacts of
biofuels on economic policy and rural sociology.
The company also recently gave its support to the Colorado Center for
Biorefining and Biofuels, a joint venture between large and small businesses, and
the newly formed Colorado Renewable Energy Collaboratory, the association of
the University of Colorado at Boulder, the Colorado School of Mines, Colorado
State University and the National Renewable Energy Laboratory.