Fracking presents no risk to Novozymes' bioenergy business, the biotechnology firm's chief financial officer told CNBC on Thursday, after it beat first-quarter profit expectations.
Although 17 percent of the company's sales in the first quarter came from biofuel—a renewable substitute for petrol and diesel—CFO Benny Loft denied Novozymes' top line was threatened by interest in shale gas as an alternative source of cheap natural energy.
"The shale gas, I don't believe that a lot of people actually believe it will have a lot of impact on fuel consumption for the next many years," Loft told CNBC on Thursday, after Novozymes posted its results.
"There will be small pockets where shale gas can have an impact on fuel, but the majority of cars in the future will drive on fuel like ethanol. So I don't think it will have an impact."