Repsol and Bunge to Boost Development of Renewable Fuels in Europe with Intermediate Crops [Yahoo! Finance]
REPSOL SA SP/ADR (REPYY)
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Source: Yahoo! Finance
Europe: the incorporation of intermediate novel crops in the production of renewable fuels. Specifically, camelina and safflower will be processed into low-carbon intensity oils and used as feedstock to produce hydrotreated vegetable oil (HVO), a fully compatible drop-in replacement for conventional diesel fuel, or sustainable aviation fuel (SAF) for the decarbonization of air travel. This marks a significant step forward in feedstock innovation to produce renewable fuels in Europe. Intermediate novel crops expand the available pool of low-carbon intensity feedstocks to produce renewable fuel, with emission reductions of up to 90% compared to conventional diesel. Repsol will utilize advanced technology in its industrial assets to convert these oils into renewable fuel, creating a new pathway for the development of renewable fuels in Spain. The companies recently closed their previously announced transaction and are committed to ongoing research and development to explore further l
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