U.S. ‘Losing Momentum’ in Biofuels Makes Novozymes Target Brazil

Novozymes A/S, the world’s biggest maker of enzymes for biofuels, is focusing its expansion efforts in Europe, China and Brazil and isn’t pursuing new projects in the U.S. because of the lack of political support.

“The policy signals sent to the market are not consistent” in the U.S., said Steen Riisgaard, chief executive officer the Copenhagen-based company, in an interview at Bloomberg’s headquarters in New York. “The U.S. is losing momentum now compared to the rest of the world. The momentum is no longer here. It’s in China and Brazil.”