UPM to Become Biofuels Producer
1 November 2006
|The vision of the European Biofuels Technology Platform, of which UPM is a member. Click to enlarge.|
UPM, one of the world’s leading forest products groups, announced that it will strongly increase its stake in second-generation biodiesel in the next few years and prepare to become a significant producer of biofuels.
Currently, UPM is developing the business concept and the respective technical solutions. The company says that its decision to invest in the first commercial-scale production plant can be expected within the next few years, sooner rather than later. The plant will be located adjacent to one of UPM’s paper mill sites in Finland, France, Germany or UK.
Investments in development of concepts and plants will be significant. The production of biofuel is a good fit for UPM since its core business is to add value to the wood raw material. Our aim is to maximize the gain from the biomass-based raw material. The importance of renewable fuels is increasing, and we consider this an opportunity to further utilise our existing value chain and be part of the future development.—Jussi Pesonen, President and CEO
The main raw material used in biofuel production will be wood-based biomass.
Based in Finland, UPM’s global sales in 2005 were €9.3 billion (US$11.9 billion). The company has production plants in 15 countries and its main market areas are Europe and North America.
UPM is a member of the steering committee for the European Biofuels Technology Platform, an organization focused on creating ans supporting a healthy European biofuels industry that will achieve the goal of meeting 25% of the demand for road transport fuel with biofuels by 2030.
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