SAN FRANCISCO, Sept. 17 /PRNewswire-FirstCall/ -- DuPont Executive Vice President Thomas M. Connelly, Jr. told investors today that DuPont is executing its strategy for accelerated growth by capitalizing on the alignment of its scientific innovation with significant market opportunities in agriculture, biofuels, bio-based materials, renewable energy and safety and protection.
"Never before in our history have we seen an opportunity where DuPont innovation is positioned to deliver across so many businesses in such diverse markets," Connelly said. "These are dynamic times when market access and innovation momentum are key to delivering transformative products and technologies."
Connelly reviewed how critical innovation is to increasing global production agriculture and discussed how the DuPont Agriculture & Nutrition business segment is positioned to bringing solutions to farmers around the world. The DuPont Pioneer Hi-Bred business is targeting a 40 percent increase in yields from both its soybean and corn seed products in the next 10 years. Those advancements include Accelerated Yield Technology(TM) to drive genetic gains in agriculture productivity and Optimum(R) GAT(R) next generation herbicide trait for corn and soybeans. Other pipeline products include transgenic drought tolerance and nitrogen use efficiency traits.
The DuPont Applied BioSciences business has announced significant advancements toward commercialization of the biofuels portfolio this year. "The formation of the DuPont Danisco Cellulosic Ethanol LLC joint venture created the world's first, robust and economic integrated solution for cellulosic ethanol conversion," Connelly said.
The joint venture is a $140 million investment over the next three years. The first capital investment is a partnership with the University of Tennessee to construct a pilot plant in Venore, Tenn. Construction of the pilot is expected to begin next month and the facility is expected to be operational in 2009. Scale-up of the technology package for conversion of corn cobs and switchgrass to ethanol will be completed at the pilot facility, allowing for commercial introduction without the need for demonstration scale testing.
"This is an extraordinary time where it is critical that we use our best scientific tools to deliver sustainable and transformative technologies to the global markets in which DuPont operates," Connelly said. "The examples provided today demonstrate some of our biggest near-term growth opportunities, but there are many more including our Safety & Protection business segment and the Photovoltaic Solutions business."
Today's presentation can be found at the Investor Center of the company's website at http://www.dupont.com/.
DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
Forward-Looking Statements: This news release contains forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in DuPont's filings with the Securities and Exchange Commission, particularly its latest annual report on Form 10-K, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions of countries in which the company does business; competitive pressures; successful integration of structural changes, including acquisitions, divestitures and alliances; research and development of new products, including regulatory approval and market acceptance, and seasonality of sales of agricultural products.
Links: Pioneer website: http://www.pioneer.com/web/site/portal/ DuPont Photovoltaic fact sheet: http://tinyurl.com/67g8gs DuPont Biofuels fact sheet: http://tinyurl.com/5hsus5
The DuPont Oval Logo, DuPont(TM), The miracles of science(TM), Accelerated Yield Technology(TM) and Optimum(R) GAT(R) are registered trademarks or trademarks of DuPont or its affiliates.
