Chevron Corp. and Weyerhaeuser Co. have announced a letter of intent to jointly examine the feasibility of creating biofuels made from wood fiber and other sources of cellulose.
San Ramon-based Chevron and Federal Way, Wash.-based timber giant Weyerhaeuser said they will "focus on researching and developing technology that can transform wood fiber and other nonfood sources of cellulose into economical clean-burning biofuels for cars and trucks."
"Chevron is investing in cellulosic biofuels because we believe they will play a role in meeting future energy growth," Dave O'Reilly, chairman and CEO of Chevron, said in the announcement.
In September, Chevron said it would fund up to $25 million in research at UC-Davis over the next five years, to research and develop transportation fuels made from crops grown specifically for energy.East Bay Business Times via Yahoo News
