Novozymes to Boost R&D in Bioagriculture, Biofuel

Novozymes will boost its R&D in biofuels and agriculture products, above the 16% of its revenue, about $260 million that it spent last year. In comparison, Dupont spent $2.1 billion in 2012. Novozymes already has 10% of the global bioagriculture market and 60% of the biofuel enzymes market. It expects to supply enzymes to up to 25 cellulosic ethanol plants by 2015-17.

Source: Bloomberg, 19 March 2013

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