programme that exceed the initial performance targets set by the US Department of Energy (DOE), which were established by comparison with the performance of existing commercial enzymes for biomass conversion. This achievement triggered two milestone payments to Diversa totalling over $500,000 -one for meeting the DOE requirements and a second for substantially exceeding the DOE requirements. The goal of the programme, which was initiated in 2003, is to develop a cost-effective process to convert corn and other biomass feedstocks to sugars for making fuels and chemicals. Based on Diversa's successful enzyme development activities, the programme has advanced to the next phase, which is focused on achieving key economic objectives. This programme is part of a six-year alliance between Diversa and DuPont Bio-Based Materials to discover and develop novel biocatalysts for the production of fuel ethanol, DuPont Bio-PDO for textiles and other applications, and a range of value-added chemicals from renewable resources such as corn and biomass. As the leader of a $38 M consortium to develop a biorefinery, DuPont will receive $19 M in matching funds from the DOE over four years. In addition to Diversa, which offers enzyme development expertise, and DuPont, which offers chemical and engineering expertise. Diversa is receiving research