Archer Daniels Midland Co. (ADM) partnered with Volkswagen AG in a joint research agreement in January. The two companies will combine resources to further develop and utilize biodiesel fuels for the automotive industry.

According to ADM, this is the first time that one of the world's leading automakers has joined forces with a major global agricultural company to cooperate on the development of next-generation clean renewable fuels.

"Biodiesel is one of the most promising renewable fuels on the horizon," said Allen Andreas, ADM chairman and chief executive. "The agreement clearly demonstrates the shared commitment of both our companies to developing environmentally friendly next-generation alternative fuels that address global energy needs."

Volkswagen AG, headquartered in Wolfsburg, Germany, is Europe's largest automaker and one of the world's largest producers of passenger cars.

"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.

ADM, headquartered in Decatur, Ill., is a world leader in agricultural processing, including soybeans, corn, wheat and cocoa. The company also leads in soy meal and oil, ethanol, corn sweeteners and flour