Mission NewEnergy Ltd
Overview
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Founded Date March 20, 2007
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Sectors Sales & Marketing
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Viewed 5
Company Description
Portugal’s Galp Plans to Start Producing Biofuels In 2025
LISBON, Dec 19 (Reuters) – Portugal’s Galp Energia anticipates to start producing biodiesel and biojet fuel from waste in an industrial-scale system it is constructing at its Sines refinery in 2026, the business, which is mostly an oil manufacturer and refiner, said on Thursday.
In 2015 Galp participated in a 75%-25% joint endeavor with Japan’s Mitsui to invest 400 million euros ($415 million) in the Hydrogenated Vegetable Oil (HVO) plant, which will have a of 270,000 metric tons per year.
It will change waste materials, such as utilized cooking oils, into sustainable biodiesel and biojet fuel, likewise referred to as sustainable aviation fuel (SAF), using green hydrogen produced by an electrolyser powered by wind or solar power.
Galp said in a statement it got on Wednesday the 3 reactors to process biofuels, which will enable the HVO system to “produce SAF and biodiesel in 2026 … placing Galp at the leading edge of establishing low-carbon services essential for the energy shift”.
Galp is also investing 250 million euros in a 100 megawatt (MW) electrolyser unit to produce green hydrogen to power the refinery in Sines. ($1 = 0.9637 euros) (Reporting by Sergio Goncalves;-RRB-
