The two companies have been working together since 2003 and formed a partnership in 2006 in order to develop biofuels from biomass waste products, reports the News Journal newspaper of Delaware.

"The joint venture would be active in the development and commercialization of production technologies for biobutanol, a fuel component produced from biomass," the European Commission, the EU's administrative arm, said in a statement.

The joint venture is an effort to bring DuPont's strengths in biotechnology and manufacturing together with BP's fuel technology and marketing experience.

The biobutanol production project will initially include several feedstocks, including sugar cane or sugar beet, corn, wheat, and cassava. At a later stage, the companies hope to include cellulosic feedstocks from fast-growing grasses, or agricultural byproducts such as straw and corn stalks.

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