GLOBAL BIOENERGIES Welcomes France's Decision to Increase Biofuel Mandates
January 07 2019 - 11:37AM
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 BIOENERGIESBernard Chaud Director of
Industrial Strategy Tel: +33 1 64 98 20 50
invest@global-bioenergies.com
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