- Despite criticism from activist investor Nelson Peltz, DuPont (DD) says a $500M bet on producing ethanol from corn crop waste will pay off as demand for the renewable fuel increases.
- Peltz previously smeared the cellulosic ethanol plant as an example of the company's "speculative and expensive corporate science projects" that have "destroyed shareholder value." The Iowa facility will be completed in the coming months.
- "This plant will make money," says William Feehery, president of the industrial biosciences unit. "We put a lot of time and R&D money into this."