Shell has increased its financial support for biofuels start-up company Codexis Inc. over the past year, by almost double. This year Shell will invest around 600 million dollars in funding research conducted by Codexis, almost doubling the amount spent last year, as shown by documents submitted to the regulating organisations. Codexis has released these documents as part of its launch on the Nasdaq stock exchange. Shell has a 20% interest in Codexis, which develops enzymes to convert plant tissue into sugars, which can then be
converted into ethanol and diesel. Chevron also has a 5% interest in the company.