The push to develop ethanol is giving the Biotech industry a boost. President Bush's desire to see the country decrease oil consumption by 20% over the next 10 years is prompting people to turn towards plant sugar based ethanol. In turn they are also looking towards biotech companies for new manufacturing solutions. According to the article "The [Department of Energy] DOE has awarded up to $385 million over four years to six companies to develop ethanol." Most of this money seems to be going to green spinoffs of established oil companies. However some startups may find venture financing help from people like Vinod Khosla (the founder of Sun Microsystems).

Here's an interesting acquisition, too:

San Diego's Diversa Corp. (DVSA), which has lost $329.5 million since its inception in 1994, bought the Cambridge, Mass.-based ethanol company Celunol in January for $154.7 million in stock, plus debt financing. The Celunol management team will take over the new energy company once the deal is approved.

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