BP goes BIO, joins Biotechnology Industry Organization

Energy giant BP (who remembers that this stands for British Petroleum?) has taken another step towards the biofuel economy by joining the Biotechnology Industry Organization's Industrial and Environmental Section, BIO announced Wednesday. The companies in this group, "... are all committed to renewable energy production and sustainable industrial development and they recognize industrial biotechnology is a key driver for a cleaner, greener and more secure future," said BIO President & CEO Jim Greenwood. He continues, using a few words I've never heard before (I've hyperlinked them to internet dictionaries where you can find the definitions if you're as clueless as I am about them)
"BP is the first major integrated energy company to join BIO, signaling an important shift in fuels production that will couple biotechnology with the use of renewable agricultural feedstocks. Twenty years of research in genomics, proteomics and bioinformatics is now paying off, and industrial biotechnology is the enabling technology behind this shift," Greenwood said.

BP also announced a $500 million Energy Biosciences Institute where the company will research into long-term alternative energy sources.

[Source: Biotechnology Industry Organization]

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