FO Licht:World does not know how make new biofuels
The technology needed for commercial biofuel production from such material is still unproven and under development, he said.
"There may not be a single dominant technology but a wide range could be developed according to what commodity has to be processed and what pre-treatment it requires," he said.
Second generation biofuels are likely to be produced in market-significant volumes around 2015, he said.
Despite the global economic crisis, both the United States and European Union have signalled strong intentions to develop second-generation biofuels, he said.
"The high profile involvement of public money is likely to help next generation biofuels weather the current crisis," he told the conference.
"While it may become more difficult to obtain new private venture capital, public money is likely to continue flowing."
(Editing by Keiron Henderson)
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