Speaking of enzymes again, I have been following the biofuel collaboration between Codexis and Shell especially this year when Shell dropped cellulosic ethanol developer Iogen as its research partner in June. Codexis has been collaborating with the Shell-Iogen deal on developing technologies related to conversion of cellulosic biomass to ethanol.
Codexis and Shell have finally reached an agreement yesterday where the companies terminated their biofuel research collaboration effective August 31, two months early before their collaboration contract expires on November 1.
Shell said it will pay Codexis $7.5m for the remaining full-time employee equivalents (FTEs) and milestone payments that would have been due under the original agreement. Shell also agreed not to sell any cellulase enzymes to third party biofuel customers using technology developed by Codexis after the end of the Shell Research deal.
Shell retains its right to use and manufacture the enzymes including those enzymes that result from Codexis development in the span of a ten-year period beginning August 31, 2012. The enzymes will be for Shell's and its affiliates' own use only. Shell can also sub-license the right to manufacture the enzymes to third parties but only for Shell's own use.
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