Novozymes New CEO Says Biofuels May Supply 90% of Revenue

01/24/13, 03:37 PM | Solar Power

Novozymes A/S (NZYMB), the world’s biggest maker of enzymes used in laundry soap, may get 90 percent of its revenue from biofuel makers by 2030 if more governments startpromoting renewable energy, the company’s next CEO said.

The company currently gets about 16 percent of its revenue from biofuels and less than 1 percent from enzymes for cellulosic-ethanol plants, which turn waste and inedible crops into sugary liquids for fuel, according to Peder Holk Nielsen, who becomes chief executive officer on April 1.

“If the world really wants to secure a significant part of its liquid-fuel consumption based on biomass, this would totally transform the enzyme business,” Holk Nielsen said in an interview. “This would revolutionize the company.”

It’s the most detailed remarks from Holk Nielsen about Novozymes’ strategy since Jan. 21 when he was named to replace Steen Riisgaard as CEO.

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