Novozymes, Petrobras to team up for biofuel -paper

COPENHAGEN Fri Oct 15, 2010 2:52am EDT

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COPENHAGEN Oct 15 (Reuters) - Danish industrial enzymes producer Novozymes (NZYMb.CO) and Brazil's Petrobras (PETR4.SA) are expected to announce a partnership to develop advanced biofuels, Danish business daily Borsen said on Friday.

The newspaper cited Novozymes Chief Executive Steen Risgaard as saying that partnering with Petrobras would send an important signal to political decision-makers about development of the industry.

"Petrobras has a unique status on the Brazilian market," Risgaard told the paper. "So this is of great importance to us."

Borsen said that the deal to cooperate in developing a new method of producing second-generation bioethanol from sugarcane bagasse would be announced on Friday.

The cooperation would encompass development of enzymes and fuel production processes. Enzymes are used to break down biomass into sugars that can be distilled into ethanol. (Reporting by John Acher; Editing by Mike Nesbit)

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