GLOBAL BIOENERGIES Welcomes France's Decision to Increase Biofuel Mandates
January 07 2019 - 11:36AM
Global Bioenergies
Welcomes France's Decision to Increase Biofuel Mandates
Evry (France), 7
January 2019 - Global
Bioenergies (Euronext Growth: ALGBE) welcomes the French deputies'
vote for the country's 2019 finance bill, which stipulates an
increase in the minimum amount of biofuels to be incorporated into
motor vehicle fuel. This minimum will rise from 7.5% in 2018 to
7.9% in 2019 and then 8.2% in 2020. France's roadmap provides for
an incorporation rate of 15% by 2030, giving priority to local
feedstocks. Biofuel players will thus be able to continue building
plants and creating jobs in rural environments while reducing
greenhouse gas emissions from transportation.
Last December, the French National
Assembly passed the 2019 finance bill, which stipulates an increase
in the proportion of biofuels in road transport. The minimum
incorporation rate of biofuels, which in 2018 was 7.5% in energy
density (corresponding to around 10% in ethanol volume in
gasoline), increases to 7.9% in 2019 and 8.2% in 2020. The
bill includes heavy incentives to encourage distributors to
effectively incorporate the legal minimum amount of biofuels.
Lawmakers also give priority to
local feedstock used to manufacture these biofuels. Additional
provisions have been adopted in support of biofuels that come from
residual or lignocellulosic matter; a specific segment that will
represent 0.2 point in 2019 and then 0.4 point in 2020 is reserved
for non-extractible sugars.
Bernard Chaud, Head of Industrial
Strategy at Global Bioenergies, said: "This ambitious, sustainable
progression will enable a continual increase in the consumption of
biofuels in France. Over the course of this ramp-up, when the time
comes, distributors will incorporate increasing volumes of
high-performance biofuels blendable at a high proportion into
gasoline, such as those produced by Global Bioenergies."
Marc Delcourt, CEO of Global
Bioenergies, said, "France has chosen the incorporation of
sustainable biofuels as one of the main ways to accomplish its
energy and environmental transition. Other European countries are
adopting the same approach, in some cases even more intensively:
for example, Finland is promising an incorporation rate of 40% in
2030, and Norway has decided to implement the first worldwide
mandate of biofuel incorporation into jet fuel, in an amount of
0.5% in 2020. Our technology for producing renewable and
sustainable hydrocarbons for the road and air transport sectors
will be needed to continue this transition at the sustained pace
environed in Europe."
About GLOBAL
BIOENERGIES
Global Bioenergies is one of the
few companies worldwide, and the only one in Europe, that is
developing a process to convert renewable resources into
hydrocarbons. The Company initially focused its efforts on the
production of isobutene, one of the most important petrochemical
building blocks that can be converted into gasoline, jet fuel,
cosmetic ingredients, plastics and elastomers. Global Bioenergies
continues to improve the performance of its process, to operate its
demo plant in Germany, and to prepare the first full-scale plant
through a joint venture with Cristal Union, named IBN-One. Global
Bioenergies is listed on Euronext Growth Paris (FR0011052257 -
ALGBE)
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Contact
GLOBAL
BIOENERGIES
Bernard Chaud
Director of Industrial Strategy
Tel: +33 1 64 98 20 50
invest@global-bioenergies.com
Press release
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: GLOBAL BIOENERGIES via Globenewswire
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