Novozymes eyes piece of US biofuel market - report

Novozymes eyes piece of US biofuel market - report

(ADPnews) - Oct 28, 2010 - Danish industrial enzymes maker Novozymes A/S (CPH:NZYM B) is seeking to gain market share in the US biofuel sector via the sale of enzymes, CFO Benny Loft told news agency Bloomberg.

The plan is for the longer-term and it would not give results in the fourth quarter of this year, Loft said in the interview.

According to Novozymes's third-quarter report, sales on enzymes to the ethanol sector account for 18% of the company's consolidated sales. "We’re working to outcompete market growth," Loft said.

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Published Oct 28, 2010 15:12 CEST

Author Tsvetomira Tsanova

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Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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