By LIAM DANN
New Zealand could become one of the world's great fuel-producing nations if the plans of our largest listed biotech company, Genesis Research and Development, are realised.
It is creating a spin-off company, AgriGenesis Biosciences, that will focus exclusively on technology to improve ethanol production.
Genesis chief executive Jim Watson believes
there is the potential to create a new land-based primary industry - growing plants that could be cheaply converted to ethanol - that could revolutionise New Zealand's economy.
AgriGenesis has identified several plants that could be used for ethanol production.
The company plans to genetically engineer them to make them more easily processed.
But Watson says they do not need to use GE plants in the first instance.
AgriGenesis is already talking with oil companies about domestic production and with sugar cane growers and a manufacturer about developing production in Australia.
It is also talking with US ethanol producers about supplying plant technology.
