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March 1, 2008 – Vol. 12 No. 49 Chevron and Weyerhaeuser Form Biofuels Joint Venture: Catchlight Energy. The 50-50 joint venture company is focused on developing the next generation of renewable transportation fuels from nonfood sources. Both Chevron and Weyerhaeuser will contribute resources — including funding, background technology and employees — to Catchlight Energy. Catchlight’s initial focus will be on developing and demonstrating novel technologies for converting cellulose and lignin from a variety of sources into biofuels. “At Weyerhaeuser, we believe our timberlands hold solutions to important problems for people and the planet,” said Miles Drake, senior vice president, Research and Development and chief technology officer for Weyerhaeuser. “Catchlight Energy represents an imaginative approach to releasing this potential as we work to develop a sustainable solution to the world's energy needs.” Chevron and Weyerhaeuser already have separate research partnerships under way with universities, national laboratories and technology-based companies to advance the development of nonfood biofuels.
Chevron, based in San Ramon, California, explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products and services; manufactures and sells petrochemical products; generates power and produces geothermal energy; and develops and commercializes the energy resources of the future, including biofuels and other renewables. Weyerhaeuser Company, one of the world’s largest integrated forest products companies, was incorporated in 1900. In 2007, sales were $16.3 billion.(3/1/08)
Links: Chevron Weyerhaeuser
Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: Yes
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