Europe Lagging U.S., China on Biofuels Use, Novozymes CEO Says

Europe is lagging the U.S., China and Brazil in developing biofuels for transportation because of a lack of political direction, Novozymes A/S Chief Executive Officer Steen Riisgaard said.

Brazil aims to displace 10 percent of global gasoline use with ethanol by 2020; China is testing corn-based ethanol in nine provinces; and the U.S. has set fuel standards requiring ethanol use, said Riisgaard, whose companies is the world’s biggest maker of enzymes used to refine biofuels.