ADM Volkswagen Research Biodiesel

DETROIT - Jan 5/04 - SNS -- Archer Daniels Midland Company (ADM) and Volkswagen AG entered a joint research agreement aimed at further developing and utilizing biodiesel fuels for the automotive industry.

Biodiesel is a fuel mixture made by combining diesel petroleum with natural or renewable resources such as rapeseed oil (commonly known as "canola") or soybean oil. The use of such cleaner burning biodiesel, which can power conventional diesel engines, is environmentally friendly and substantially reduces emissions of carbon monoxide and particulate matter. As an alternative and renewable fuel, biodiesel of a special quality level can also reduce overall global dependence on fossil fuels.

"Given the tremendous environmental, economic and quality-related benefits of increased biodiesel usage, we believe this Joint Research Agreement will go a long way toward advancing and furthering the development of this vital renewable fuel choice," said Dr. Bernd Pischetsrieder, Chairman of the Board of Management of Volkswagen AG. He added that, "Volkswagen has been a leader in the development of advanced clean diesel engines and this Agreement represents Volkswagen’s commitment to introducing clean burning and renewable fuels into the automotive industry."

Allen Andreas, Chairman and Chief Executive of Archer Daniels Midland Company, said, "Biodiesel is one of the most promising renewable fuels on the horizon. This Agreement clearly demonstrates the shared commitment of both our companies to developing environmentally friendly next-generation alternative fuels that address global energy needs. We are proud to enter into this agreement together with Volkswagen and believe that advances in biodiesel will benefit the automotive industry, the driving public, farmers and the environment as a whole."

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