Clean Electricity Generation: Partnership makes biofuel accessible to everyone
AMSTERDAM, /PRNewswire/ -- At several locations around the world, a partnership of international companies will start construction of facilities, where
Of all resources used for global energy consumption, 19.3 percent is renewable energy, of which almost three-quarters is generated from biomass, according to the Renewable Energy Network (REN21). For the production of
The partnership is initiated by Clean Electricity Generation (CEG) and Stork. Stork, a Fluor Company, will build and maintain the new production facilities. The building of the first new production plant for
The company has succeeded in developing a production facility for
Other participating companies within the partnership include among others Carrier, which will supply essential parts for the production facilities, and investment company Momentum Capital, the majority shareholder of CEG. In addition, several large international energy companies have indicated that they want to join the partnership.
The sustainable residual flows of biomass are converted into biofuel through so-called torrefaction technology. With this technology, the biomass is converted into sustainable coal via a thermal refining process. This creates a relatively cheap biofuel with a high energy density. The
The International Energy Agency (IEA) names torrefaction a promising technology, although a few years ago it concluded the investments were too high and the development was too slow. Now, the IEA names torrefied biomass the cheapest, lowest risk biomass for storage, transport and processing, and also the best form of biomass as a global commodity. The partnership is now accelerating this technology.
Erik Huis, CEO of CEG said: "We are the only party who is controlling this technology on a commercially applicable scale and who owns the intellectual property of it. Now, together with all partners, we take the final hurdle to raise
Martijn van Rheenen, CEO of Momentum Capital, the investment company of CEG is also pleased. "With this partnership, we have a unique combination to contribute to both the energy transition based on proven technology and the creation of value for our investors. The production facilities in our Industrial Assets portfolio are therefore both purchased by the industry and by professional institutional parties for investing value and long-term cash flow," he commented.
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