The Global Engineering and Construction Group, of Foster Wheeler AG, has signed a Memorandum of Understanding with PetroAlgae for engineering services to be performed in conjunction with PetroAlgae’s micro crop biomass technology, which allows for the production of dry biomass on a large scale.
The two companies intend to develop commercial solutions that will allow existing oil refineries to convert micro crop biomass into fuels that are functionally compatible with petroleum based fuels in the current market. For refineries, the solutions are expected to provide strong economics from the large scale processing of PetroAlgae’s micro crop biomass into green fuels. The two firms intend to create end to end market solutions for the large scale production of green gasoline, diesel, jet fuel and specialty chemicals.
The largest biorefinery in Europe will open within the next few weeks in Teeside, UK. The Ensus operated plant attracted total investments of £ 250 million and will process approximately 1.2 million tpy of wheat into ethanol.
Carlyle Group and Riverstone Holdings made £ 90 million of the investment and £ 150 million is in the form of a loan from Royal Bank of Scotland, Societe Generale and Calyon. The UK government also contributed £ 1.9 million as a development grant. As part of a 10 year contract Shell will buy the 400 million ltr/yr output of bioethanol to blend with petrol and sell as transport fuel.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/15122009/biofuels_news_fosterwheeler_ensus_partnership/