BP to fund energy biosciences institute

As part of its continuing drive to find longer term commercial alternatives to oil and gas, BP is to fund radical research aimed at probing the emerging secrets of bioscience and applying them to the production of new and cleaner energy, principally fuels for road transport.

The company plans to spend $500m over the next ten years to establish a dedicated biosciences energy research laboratory attached to a major academic centre in the US or UK, the first facility of its kind in the world.
The Peninsula