December 13, 2013
BY European Investment Bank
The European Investment Bank is providing a €65 million loan to support the research and development projects of Biochemtex, an engineering subsidiary of the Mossi and Ghisolfi Group, a world leader in the field of second generation biofuel production technology.
Biochemtex’s 2013-2016 investment program concerns research carried out in facilities in Rivalta Scrivia (Piedmont) and Modugno (Puglia) to improve the technologies for converting non-food biomass to biofuels and other chemical molecules with industrial applications including ethylene glycol, a raw material used in the production of PET (a plastic used in food packaging).
Biochemtex’s programme is eligible for financing by the EU’s bank for a number of reasons:
Advertisement
Advertisement
- research into the production of second generation biofuels will help to reduce dependence on oil without using potential food resources;
- the resultant reduction of pollution will support the EU and EIB’s efforts to combat climate change;
- over 50 percent of the investment will be carried out at facilities in Modugno, Puglia, an EU convergence region;
- Biochemtex’s total investment of €133 million will create new jobs for highly qualified researchers and scientists.
Advertisement
Advertisement
Biochemtex has developed a technological platform for extracting bioethanol from biomass (reeds and agricultural waste such as rice or wheat straw). The bioethanol is mixed with fossil fuels, enabling a reduction of greenhouse gas emissions in line with EU regulations.
This technology – known as “second generation” to distinguish it from “first generation” technology using amylaceous crops such as maize – makes it possible to extract low-cost sugars that can be used to produce biofuels with industrial applications that can replace oil-based ones: a research project rethinking chemistry along sustainable lines.
Chevron Lummus Global announced a successful commercial test for coprocessing biogenic feedstocks and fossil feedstocks at INA Group's Rijeka Refinery in Croatia. SAF and renewable diesel were produced during the test.
Phillips 66 on July 25 released Q2 financial results, reporting the company’s Rodeo Renewable Energy Complex in California continues to run at reduced rates due to market conditions. Pre-tax income for the renewables segment was up when compared to Q1.
The EIB and Eni on July 24 signed a €500 million 15-year finance contract to support the conversion of Eni’s Livorno refinery in Tuscany, Italy, into a biorefinery that can produce renewable diesel, renewable naphtha and bio-LPG.
Iowa Secretary of Agriculture Mike Naig announced that the Iowa Renewable Fuels Infrastructure Program Board recently approved an additional 24 applications from Iowa fuel retailers to support new and expanded biofuel infrastructure projects.
CountryMark on July 22 celebrated the completion of more than $100 million in upgrades at its refinery in Indiana, including those related to soybean oil storage. The facility produces renewable diesel via coprocessing technology.