DuPont Named Among World’s Most Innovative Companies by MIT Technology Review
WILMINGTON, Del., Feb. 24 /PRNewswire-FirstCall/ –The Massachusetts Institute of Technology (MIT) Technology Review magazine has named DuPont (NYSE: DD) to the 2010 TR50, the inaugural list of the 50 most innovative companies in the world. DuPont was recognized for its efforts to develop and commercialize biobutanol with partner BP. Each company on Technology Review’s top 50 list was evaluated based on its business model, strategies for deploying and scaling up technologies, and the likelihood of success. The scope of each company spanned energy, computing, the Web, biomedicine and materials.
“Each company in the 2010 TR50 has excelled not only at inventing technology but also at using it to transform how we live and work,” said Technology Review.
“DuPont was selected for the TR50 for its advances in developing butanol as a new type of biofuel,” said Jason Pontin, editor in chief and publisher of Technology Review. “Butanol offers a number of advantages over ethanol, today’s most common biofuel. And through its work on butanol, DuPont, which is partnering with BP, could help make biofuels much more attractive. The TR50 list is our selection of companies that show the most impressive innovation in commercializing new technologies.”
“The world is undergoing transformational change, and DuPont is responding by sharpening the focus of our innovation engines to meet the increasing demand for food, protecting lives and the environment, decreasing dependence on fossil fuels, and meeting emerging market demand for value-added, science-based solutions,” said Thomas M. Connelly, DuPont executive vice president and chief innovation officer. “Today, more than 8,500 DuPont scientists and engineers in every corner of the world are working to help our customers meet these complex challenges that will define the coming decades. New businesses and new business models continue to be implemented to assure our science is delivered to the global marketplace.”
DuPont and partner BP formed a joint venture last year, Butamax(TM) Advanced Biofuels, to bring biobutanol to market. The joint venture will be responsible for managing all aspects of the ongoing biobutanol research and development program to bring biobutanol to the global market following four years of extensive biotechnology development and fuel testing.
“Biobutanol is an ideal molecule for fueling cars,” said Craig F. Binetti, president – DuPont Applied BioSciences. “This program is on schedule to deliver a superior process to manufacture biobutanol at large, commercial volumes. This technology puts Butamax(TM) in an excellent position to deliver biobutanol at production costs competitive with ethanol, allowing for a simple conversion of existing ethanol plants that will soon have the option to produce better biofuels.”
In these ways, biobutanol offers significant environmental and performance benefits to participants throughout the fuels and biofuels value chains. Ground has been broken on a biobutanol technology demonstration facility on the BP Saltend site in Hull, U.K. It will be operational this year. The facility will be used to conduct the required process development programs to generate commercial design packages that will be used to develop biobutanol production plant designs for facilities around the world.
DuPont was joined by companies including Google, Amazon.com, Apple, GE, Intel, IBM, Tesla Motors and others on the TR50 list.
Technology Review, Inc., an independent media company owned by MIT, is the authority on the future of technology, identifying emerging technologies and analyzing their impact for leaders. Technology Review’s media properties include Technology Review magazine, the oldest technology magazine in the world (founded in 1899); the daily news website TechnologyReview.com; and events such as the annual EmTech@MIT Conference.
DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
The DuPont Oval Logo, DuPont(TM) and The miracles of science(TM), Butamax(TM) are registered trademarks or trademarks of DuPont or its affiliates.