In a move that will have a big impact on the biofuels and industrial biotechnology industries, Dupont announced that it has signed and agreement to acquire one of the world’s largest industrial enzyme producers, Danish-based Danisco. It is a show of confidence by DuPont in the future of the biofuels market.
DuPont already knows something about the benefits that Danisco’s enzyme business can bring to the biofuels market. DuPont and Dansico have an existing joint venture to produce cellulosic ethanol. With this acquisition, DuPont will own it all.
In addition to Danisco’s share of the cellulosic ethanol joint venture and its industrial enzyme business, Danisco also has an successful food ingredients business, offering products that include yogurt cultures, gums and natural sweeteners.
The deal is expected to close in the second quarter of 2011, and at that point almost half of Dupont’s revenue will be derived from food-related products, marking an incredible remaking of the venerable chemical company.
