May 8, 2006—DuPont has announced that it is creating a new division to accelerate the company’s biofuels research and create a newly designed biorefinery. Dupont, which currently draws about $300 million in revenue from biofuels, says DuPont Biofuels expects to substantially increase its activity, resources, and revenues in these markets by 2010.
DuPont has made a corporate commitment to have at least ten percent of its power produced by renewable energy sources by 2010, some of which will be supplied through solar panel technology. Today, over five percent of its power is produced by renewable energy sources.
DuPont says that it is increasingly relying on plant-based substances rather than fossil fuels as sources for many of its chemicals. The company is conducting research on solar energy in the UK, Switzerland, China, Japan, and three sites in the US.
