Danish company Novozyme are leaders in producing the enzymes required in bio-mass breakdown for producing bio-ethanol. However rising living standards in Asia and the growth of sales of washing machines means sales of detergent enzymes is a fast growing market as well. Detergent enzymes replace petrochemical ingredients which have increased in cost and enzymes are biodegradeable making them more envirnmentally and consumer friendly.
Novozymes was awarded a contract from the US National Renewable Energy lab (NREL) to reduce the cost of enzymes for cellulosic ethanol. In a 5 year period they succeeded in reducing costs significantly, to a position where enzyme costs are no longer a significant cost.
Compared with last year , worldwide, Q1 Sales grew by 18%, operating profit by 15%, and net profit for the period by 30%, with earnings per share rising by 34%.
During the year both the President of the United States and The Secretary of State Condileeza Rice have met with senior staff and visited plants in the USA.
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