Global Bioenergies has announced signature of 13 letters of intent from French and international industrial leaders for purchases totalling 49 000 – 64 000 tpy of isobutene and derivatives.
This covers the total production capacity of the planned IBN-One plant. The letters of intent come from the cosmetics, specialty fuels, road fuels and air transport industries.
Over half of the letters of intent and a significant share of capacity (about 20%) are earmarked for high added-value niche markets in specialty fuels and cosmetics. Several of the letters of intent include price indications that confirm the potential for isobutene derivatives to fetch prices far higher than their oil-derived counterparts.