Novozymes Chief Says 2G Ethanol Market Can Endure Oil Price Drop
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Novozymes A/S, the world’s largest maker of enzymes used in biofuel to washing powder, said the market for second-generation ethanol plants that run on agricultural waste can withstand the current fall in oil prices.
If the price of oil sank to about $40 a barrel over the long term, demand for so-called 2G technology would be effected, according to Chief Executive Officer Peder Nielsen. Demand for biofuel enzymes increased 10 percent in the fourth quarter, bolstering profit in the period.