Verenium said the 1.4 million gallon per year plant uses specialty enzymes to convert non-food biomass into ethanol.OK so it is a prototype plant.
And they do have hopes of building a 30 million gallon per year plant. That sounds good until you look at some numbers. 30 million gallons is only 714,300 barrels a year. (There are 42 gallons in a barrel) The US consumes 20,687,000 barrels per day. And when you add in the fact that there is more energy stored in a barrel of oil than in a barrel of ethanol, well you can see it will be a while before we replace oil with biofuels.
Turning food into fuel, doesn't make sense. Turning what is currently waste into fuel makes sense. I just doubt it would be enough in the long run to replace our dependence on oil.