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Gold/Mining/Energy : Archer Daniels Midland

ADM 56.97

+0.4%

Nov 7 9:30 AM EST

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From: Edscharp	4/16/2007 3:18:25 PM
	of 84

ADM wins federal grant for cellulosic ethanol Mon Apr 16, 2007 11:47 AM ET yahoo.reuters.com CHICAGO, April 16 (Reuters) - Archer Daniels Midland Co. <ADM.N> will receive a grant from the U.S. Energy Department to advance research on producing ethanol from plant material such as corn stalks and switch grass, the company said on Monday. ADM, the largest U.S. ethanol producer, is working with Purdue University in Indiana to develop a yeast that will break down the cellulosic material in plant matter and allow it to be converted into ethanol. Ethanol is currently made using corn in the United States and sugar cane in South America. There is no commercial production of ethanol using cellulosic materials because of the high cost. However, using food to make fuel has created concerns about rising food prices and prompted the government to fund research into alterative ways to produce the alternative fuel that is blended with gasoline. The ADM-Purdue project was one of five projects to receive funding from the federal government that will start this fiscal year and end in 2010, the company said. The amount of funding was not immediately available.

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