Sir Richard Branson was one of the people who funded Burt Rutan's Scaled Composites successful claim of the X-Prize with Space Ship One.
Now he is looking at developing an eco-friendly jet fuel.
The Independent Online/Reuters has the story:
Branson's Virgin to go green with jet fuel
Tired of skyrocketing jet fuel prices, Virgin Atlantic Airways boss Richard Branson has said he plans to turn his back on hydrocarbons and use plant waste to power his fleet.
"We are looking for alternative fuel sources. We are going to start building cellulosic ethanol plants (to make) fuel that is derived from the waste product of the plant," he told Reuters in an interview in the oil-rich United Arab Emirates (UAE).
"It is 100 percent environmentally friendly and I believe it's the future of fuel, and over the next 20 or 30 years I think it actually will replace the conventional fuel that you get out of the ground."
I love his choice of venue for that announcement!
Jen was saying earlier that this is a perfect example of the benefits of a privately-held corporation. They can afford to bet a good chunk of the company on a new technology. Publicly-held corporations need to kowtow to their stockholders so they tend to be very cautious.
Baby steps.
