UPM Cancels Rotterdam Biofuels Project
Finland-based UPM has announced it will discontinue plans for a new biofuel refinery at the Port of Rotterdam following extensive evaluations.
All engineering work and site commitments related to the project will be halted, the firm said in a statement on its website on Tuesday.
Instead, UPM is sharpening its focus on expanding its biofuels platform through its existing Lappeenranta Biorefinery in Finland.
The refinery produces around 130,000 mt/year of advanced biofuels.
The company aims to unlock low-cost growth opportunities there and push forward with the commercialisation of crude tall oil (CTO)-based biofuels, especially for aviation use.
“We continue seeing strong long-term market potential for biomass-based fuels, especially in Europe, where greenhouse gas (GHG) reduction commitments continue driving the need for sustainable alternatives to fossil fuels across transport modes, but specifically in road and aviation,” Harald Dialer, executive vice president of UPM, said.
UPM’s announcement comes just days after energy firm Greenergy temporarily halted production at a biofuel plant, citing broader challenges facing the country’s biofuels industry.
