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Add 'Portugal's Galp Plans to Start Producing Biofuels In 2025'

Elizbeth Jacks 2025-01-12 06:33:46 +11:00
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Portugal%27s-Galp-Plans-to-Start-Producing-Biofuels-In-2025.md Normal file

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<br>LISBON, Dec 19 (Reuters) [- Portugal's](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) [Galp Energia](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) expects to [start producing](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) [biodiesel](https://www.crunchbase.com/organization/mission-newenergy) and [biojet fuel](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) from waste in an [industrial-scale](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) system it is [building](https://www.google.com/search?kgmid=/m/0cqd_rb) at its [Sines refinery](https://pitchbook.com/profiles/company/51278-86) in 2026, the business, which is mainly an [oil producer](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) and refiner, stated on Thursday.<br>
<br>Last year [Galp participated](https://www.google.com/search?kgmid=/m/0cqd_rb) in a 75%-25% joint [endeavor](https://www.bloomberg.com/profile/company/MNELF:US) with [Japan's Mitsui](https://stocktwits.com/symbol/MNEL) to invest 400 million euros ($415 million) in the [Hydrogenated Vegetable](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) Oil (HVO) plant, which will have a production capacity of 270,000 metric loads annually.<br>
<br>It will change waste products, such as used [cooking](https://stocktwits.com/symbol/MNEL) oils, into [sustainable biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) and biojet fuel, likewise referred to as [sustainable aviation](https://pitchbook.com/profiles/company/51278-86) fuel (SAF), using green hydrogen produced by an [electrolyser](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) powered by wind or [solar energy](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html).<br>
<br>Galp said in a [statement](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) it received on Wednesday the three reactors to process biofuels, which will allow the HVO system to "produce SAF and [biodiesel](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) in 2026 ... putting Galp at the forefront of developing low-carbon options vital for the energy transition".<br>
<br>Galp is also investing 250 million euros in a 100 megawatt (MW) electrolyser unit to produce green hydrogen to power the in Sines. ($1 = 0.9637 euros) ([Reporting](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) by Sergio Goncalves