News

Versalis, the chemical subsidiary of Eni, and Elevance Renewable Sciences, a producer of specialty chemicals from natural oils, have signed a memorandum of understanding (MoU) to establish a strategic partnership to jointly develop and scale a new metathesis technology to produce biochemicals from vegetable oils. Under the new partnership, the two companies will jointly develop and scale new…
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Boeing is developing its initiative with South African Airways (SAA) and the Roundtable on Sustainable Biomaterials (RSB) to create further opportunities to help smallhold farmers in southern Africa grow crops that generate sustainable fuels. The programme's purpose is to aid farmers who own small plots of land, by enabling them to enter into the sustainable biofuels and biomaterials…
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Biofuel firm Green Fuel needs $1.8 billion (€1.3 billion) in foreign direct investment (FDI) to finish the construction of four ethanol plants. First phase construction of the Chisumbanje ethanol plant cost $200 million alone. The company is currently hoping to construct the Condo Dam plant, priced at $300 million, as the build will expand Green Fuel’s source of irrigation water…
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The Navy plans to create two new acquisition vehicles this year to ensure it has a consistent supply of advanced biofuels. As an indication of their development, the service says the biofuels will not be any more expensive than the petroleum-based diesel and jet fuels that it has been buying for decades. By using the Defence Production Act, the Navy are able to send money to companies that supply…
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For the first time, ethanol storage measurements have been included in Genscape's recently published New York Harbour Product Storage Report. Genscape, a provider of real-time data and intelligence for commodity and energy markets, has identified a 90% correlation between the petrol and distillate storage measurements in the NYH Product Storage Report and the EIA estimates for PADD 1B. The…
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China and India are set to dominate Asia's alternative fuels market, but ambitious targets, including China's 10% ethanol in 2020 and India's 20% biofuels in 2017, are doubtful. India is likely to overtake Asia's biodiesel growth, according to Lux Research's new report, titled 'Planning for the long-term in Asia Pacific alternative fuel markets'. Indonesia, China and Malaysia are the three…
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A Houston federal grand jury has indicted the owner and CEO of two biodiesel companies with renewable identification number (RIN) fraud, in a scheme that allegedly made him over $29 million (€21 million). The 68-count against Philip Joseph Rivkin, includes allegations of wire fraud, mail fraud, Clean Air Act false statements and money laundering. 'The indictment alleges that…
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Honduras has opened its first ethanol production plant in the city of Catacamas in the department of Colancho. Located at the headquarters of the National Agricultural University, the country's plant is part of a wider initiative led by the Organisation of American States (OAS) to expand biofuels activity within the area. Its development is supported by the Brazilian and US governments, along…
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Salem-based Epic Aviation was among 11 oil and gas distribution companies to be awarded multimillion-dollar contracts this week by the Pentagon's Defence Logistics Agency. Epic, who supplies almost 300 fuelling points to the commercial and military aviation industry, will receive up to $12,002,258 (€9 million) to supply military aircraft with aviation turbine fuel. The US company has been…
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Eco-Energy, a US-based biofuel supply chain company, has announced the development of an ethanol unloading, storage, and outbound truck loading facility in Augusta, Georgia. This facility will serve the Augusta and Savannah markets in Georgia. The ethanol unit train facility will be equipped to receive up to 80 tank cars via Norfolk Southern Railway for distribution by truck to the local gasoline…
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Crop company Agrisoma Biosciences has finished the first closing of its Series A financing round, expected to total $8 million through 2014. Cycle Capital Management led the financing round, which included participation of BDC Venture Capital, one of Agrisoma's current equity investors. Certified sustainable by the Roundtable on Sustainable Biomaterials (RSB), Carinata is the world's first…
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From November, Malaysia will lift its biodiesel mandate from 5% to 7%. The world's second largest palm grower hopes to lower stocks and raise prices that have dropped more than 20% this year, while increasing the domestic consumption of palm-based biodiesel. The government hopes that the higher mandate for the subsidised sector will help reduce the country’s reliance on…
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State-owned Petroleum Corporation of Jamaica (PCJ) is weighing up the possibility of replacing imported oil with biofuels from local crops. PCJ has made agreements with Bodles Agricultural Research Station and the Caribbean Agricultural Research and Development Institute to cultivate select crops for biofuel production. 'We are also procuring an oil press, which will press the seeds out to get…
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Novozymes, a producer of industrial enzymes, says 2013 financial results saw organic sales grow by 7% (DKK 5%, LCY 8%), EBIT by 6% and net profit by 9%. The EBIT margin increased by 0.3% to 24.7% compared with 2012. The company is confident 2014 will show a continuation of these upward trends, an outlook which includes the expected financial impact from its BioAg Alliance with US-based chemical…
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