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Shell Sells its Shares in BTL Company CHOREN
9 November 2009
Shell Deutschland Oil GmbH has sold its shares in CHOREN Industries GmbH to all the remaining CHOREN shareholders, a syndicate consisting primarily of Hamburg-based entrepreneurs as well as the carmakers Daimler AG and Volkswagen AG. Shell had acquired a minority stake in CHOREN in 2005. (Earlier post.)
CHOREN is a supplier of gasification technologies used for the production of biomass-to-liquids (BTL) as well as traditional synthesis gas products (e.g. ammonia and methane) and for the generation of electricity especially in CHP (combined heat and power) plants.
The parties agreed not to disclose any information on the general business-related background to this transaction. The major shareholder Turina and other leading shareholders will arrange a further capital increase for the upcoming projects.
Shell and its shareholding partners in CHOREN jointly agreed to this transaction, said a Shell spokesperson.
The technical expertise of Shell will provide future support in developing BTL to market maturity, said Marcell Ulrichs, CEO of Choren.
November 9, 2009 in Brief | Permalink | Comments (2) | TrackBack (0)
Comments
Posted by: Henry Gibson | November 10, 2009 at 08:21 PM
Henry, you may be right. The tendency to quash new ideas is endemic to oil these days. I still hold out hope that oilcos will get on the renewable bandwagon with liquid fuels. I'm sure they'll be heavily promoting the H2 economy going forward.
What's interesting is to see if they have the vision to find alternative H2 production methods - or stick with fossil to H2 reforming.
Posted by: sulleny | November 11, 2009 at 10:39 AM
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It could make for better competition if oil companies stayed out of the alternative fuel businesses. ..HG..