BP Snaps up 30 Per Cent Stake in Green Biofuels Ltd

by James Murray (Business Green) Oil giant invests in leading biofuels provider, as company announces major new haulage deal thanks to partnership — BP has today announced the acquisition of a 30 per cent stake in Green Biofuels Ltd, the UK’s largest provider of hydrogenated vegetable oil (HVO) fuels.

The oil giant said the investment – financial details for which were not disclosed – would support Green Biofuels expansion as it works to encourage more firms to switch from diesel to lower emission biofuels. The deal will also expand BP’s global biofuels portfolio, in line with its strategic goal of expanding its bioenergy businesses in support of its wide net zero emission goals.

Founded in 2013, Green Biofuels is the UK’s largest provider of HVO, having delivered over 55 million litres of HVO products to the UK market over the past two years.

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In-field and controlled environment independent tests have shown that compared to standard diesel emissions, Green Biofuels’ HVO Gd⁺ fuel, achieves up to 85 per cent reductions of particulates and up to 30 per cent reductions of nitrogen oxides emissions. READ MORE

BP snaps up stake in biofuels firm to accelerate shift away from diesel (City A.M.)

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