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Oil giants join forces

07.06.2013 - US-based algae biofuel and omega-3 oil giant Cellana has signed a multi-year collaboration with Finnish Nesté Oil, the global #1 for bio-diesel.

Under the term of the agreement, Neste Oil will purchase crude algal oil from Cellana, which the company produces in commercial-scale algae biorefineries. The non-exclusive agreement is contingent on Cellana's future production capacity and on compliance with future biofuel legislation in the EU and US, amongst other factors.

"We want to support R&D efforts on new, sustainably produced raw materials and increased production of algae oil, which is one of the most interesting future alternatives in this area. Studies have already shown that algae oil can be used successfully in our NExBTL process," says Neste Oil's Senior Vice President, Technology, Lars Peter Lindfors.

"The off-take agreement with Cellana allows us access to commercial-scale volumes of cost-competitive algae oil in the future. This new agreement fits very well with our strategy aimed at extending the range of feedstocks we use for NExBTL renewable fuel." Samples have shown that Cellana is able to produce algae oil suitable for renewable fuel production by Neste Oil.

© eurobiotechnews.eu/tg

http://www.european-biotechnology-news.com/news/news/2013-02/oil-giants-join-forces.html

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No liability assumed, Date: 07.02.2016