DuPont’s $500 Million Ethanol Bet Panned by Peltz to Pay Off
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DuPont Co. said a $500 million bet on producing ethanol from corn crop waste, singled out by activist investor Nelson Peltz as lavish, will pay off as companies such as Procter & Gamble Co. add to demand for renewable chemicals and fuels.
“This plant will make money,” William Feehery, president of the industrial biosciences unit, said in an interview at the World Conference on Fabric & Home Care in Montreux, Switzerland. “We put a lot of time and R&D money into this.”