ConocoPhillips Grants $22.5 Million for Biofuels Research Program at Iowa State University

Apr. 11, 2007 (The Biotech Weblog delivered by Newstex) --
ConocoPhillips is investing $22.5 million on a research program at the Iowa State University to develop technologies that produce biorenewable fuels. The grant consists of an initial $1.5 million in 2007, followed by additional yearly grants of $3 million for the next 7 years.
 

"Iowa State University, with its central location in the agricultural belt and rich traditions of research and service, is uniquely positioned to set the standard for biorenewables research, education and technology transfer," Geoffroy said. "Contributing to the development of the bioeconomy is directly in line with our mission: 'Create, share and apply knowledge to make Iowa and the world a better place.'"

According to Robert C. Brown, the Iowa Farm Bureau Director of Iowa State's Office of Biorenewables Programs, ConocoPhillips (NYSE:COP) is especially interested in converting biomass to fuel through a process called fast pyrolysis, which uses heat in the absence of oxygen to decompose biomass into a "bio-oil" which can subsequently be refined into transportation fuel (see video for more details).



Source: Iowa State University News Service