BP acquired Verenium’s facilities in Jennings, Louisiana, including the pilot plant and demonstration-scale facility, the San Diego R&D facilities, as well as cellulosic biofuels and cellulosic enzyme technology and related IP.
In addition, BP retained select personnel needed to continue the cellulosic biofuels development program, and has become the sole owner of Vercipia Biofuels and Galaxy Biofuels, the 50-50 joint ventures created by Verenium and BP.
Verenium retains its commercial enzyme business, including its biofuels enzyme products, and has the right to develop its own cellulosic enzyme program.
The company also retains select R&D capabilities, as well as the potential option to access select biofuels technology developed by BP using the technology acquired from it through this transaction.
