Bush's speech boosts Novozymes and Danisco share price  

2006.02.03
President George W. Bush's address to the nation Tuesday, where he promised to cut down on US oil consumption and focus on alternative fuels, put an instant shine on Novozymes and Danisco shares

President George W. Bush's address to the nation Tuesday, where he promised to cut down on US oil consumption and focus on alternative fuels, put an instant shine on share prices for Novozymes and Danisco, two Danish companies which develop and manufacture enzymes for bioethanol production.

Jack Huttner, deputy director of the Danisco-owned company Genencor headquartered in Palo Alto, California, says Bush's announcement is very important: "We hope the US government will support research projects which can help make bioethanol competitive. We are talking about investments of 100-200 million dollars, so public support is vital".

The week before President George W. Bush gave his speech, a delegation from the Danish Energy Agency was in Washington to present Denmark's competencies in exploiting alternative forms of energy to senators and representatives of the Ministry of Foreign Affairs and the Ministry of Energy.

Hans Jørgen Koch, international director of the Danish Energy Agency says there was considerable interest in the Danish know-how. "We will invite Danish companies and research institutions in the near future, so we can tell them what we got out of the trip, and discuss the steps we can take to open up the US market". The news was reported by financial daily newspaper Børsen and national daily newspaper Politiken.

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