According to Codexis, its research collaboration deal with Shell under the Raizen-Shell biofuel JV is still ongoing although investors fear that Shell might also pull out of this one given that the Codexis-Shell research pact expires at the end of October.
Raizen currently holds 16% stake in Codexis.
The only advanced biofuel research collaboration that Shell has right now aside from Codexis is US-based Virent, where the companies are looking to develop biomass-based gasoline, jet fuel and diesel.
Codexis, by the way, recently hired its new CEO John J. Nicols, formerly senior vice president, strategic development and catalysts at Albemarle. It will be up to Mr. Nicols now to see if he can persuade Shell to continue investing research in cellulosic ethanol.