BP and Verenium, Corp. are a step closer to forming a joint venture to produce cellulosic ethanol in Florida.

The collaboration will be focused on the development of a commercial-scale cellulosic ethanol facility in Highlands County, Florida and expects to break ground on that site in 2010. The estimated construction cost for this 36 million gallon-per-year facility is between $250 and $300 million. Production from this plant is expected to begin in 2012. With plans to add additional capacity, the joint venture company also intends to develop a second site in the Gulf Coast region.

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