DuPont Forms Global Biofuels Business Unit
John P. Ranieri, VP&GM, Bio-Based Materials - Energy & Specialties, to Lead Unit
WILMINGTON, Del., April 10, 2006, DuPont today announced it has formed a new business unit, DuPont Biofuels, to accelerate commercialization of DuPont’s biofuels technologies and pipeline candidates.
“DuPont’s scientific capabilities in biofuels position us well for substantial growth,” said DuPont Senior Vice President and Chief Science & Technology Officer Thomas M. Connelly . “Our new BioFuels business unit will leverage DuPont’s unique combination of capabilities in agricultural biotechnology, metabolic engineering, chemistry and process engineering to accelerate commercialization of environmentally attractive, cost-effective solutions in the expanding biofuels markets around the world.”
Specific growth projects across DuPont globally will be consolidated within DuPont Biofuels to capitalize on the market opportunities and technology needs in this high-growth industry, including crop-based products and technologies, the biorefinery initiative with the U.S. Department of Energy and metabolic engineering capability to manufacture biofuels. Today, DuPont annual revenues into global biofuels markets, largely from agricultural inputs to fuel ethanol, are about $300 million. The company expects to substantially increase its activity, resources and revenues in these markets by 2010.
DuPont Biofuels is formed under the direction of John P. Ranieri , vice president and general manager, DuPont Bio-Based Materials - Energy & Specialties. He will be responsible for leading a team that will drive value creation projects in biofuels around the globe.
Ranieri, 46, joined DuPont in 2002 from Aortech International, a medical device company, and has led DuPont’s bio-based materials businesses since then.
DuPont Bio-Based Materials is focused on the development of biotechnology solutions using biology, chemistry, materials science, and engineering in an integrated fashion to serve our customers.
DuPont is a science company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture, nutrition, electronics, communications, safety and protection, home and construction, transportation and apparel.
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