Finnish forest-based bio-industry company UPM is planning to discontinue the development of its potential second biomass-to-fuels refinery at the Port of Rotterdam, said the company in a press release on Tuesday, reported Xinhua.
The company made the plan following extended technical, commercial and strategic evaluations.
As a result, UPM plans to halt all engineering work related to the CAPEX investment in Rotterdam and to withdraw from all site-related commitments associated with the Rotterdam investment.
At the same time, UPM will continue to seek growth in biofuels by advancing the development of proprietary technologies enabling the extension of feedstock options to other forms of competitive and sustainable biomass and the work related to the qualification and commercialization of Crude Tall Oil (CTO)-derived UPM biofuels for jet engine fuels.
“Renewable fuels and renewable chemicals are the central elements of UPM’s long-term growth in decarbonization solutions. The Lappeenranta biofuels biorefinery will remain the nucleus of our growing biofuels platform”, said Harald Dialer, Executive Vice President, UPM Biorefining and Technology.
Source: www.dailyfinland.fi
