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BP takes stake in HVO fuel provider

8 February 2022

BP takes stake in HVO fuel provider

Highlighting once again the importance of using cleaner alternative fuels to power plant fitted with traditional diesel engines and its commercial significance, BP has acquired a 30% stake in Green Biofuels Ltd (GBF), the UK’s largest provider of hydrotreated vegetable oil (HVO). 

GBF’s products are made from renewable feedstocks such as vegetable oils, animal oils and fat. Its product range includes HVO Gd+, a low emission fuel that can be used as a direct drop-in replacement for diesel for applications such as vehicles, temporary generators and construction machinery. 

BP says that by using HVO fuels, operators of diesel engines typically save lifecycle greenhouse gas emissions by 87% and improve local air quality. HVO Gd+, which is often made from waste products, achieves up to 85% reductions of particulates and up to 30% reductions of nitrogen oxides emissions, the company adds.

Sven Boss-Walker, senior vice president refining & products trading at BP, said that the investment further expands the organisation’s biofuels portfolio as it transitions to become an integrated energy company.

As has been mentioned here on Site-Eco frequently before, clean alternatives to diesel will be needed while new technologies such as batteries and hydrogen continue to develop for heavier plant and machinery.

William Tebbit, CEO of Green Biofuels, said: “Our fuels provide businesses the time to transition to new technologies when they are proven both economically and operationally. We are proud to be partnering with a company like BP, which recognises the urgency of making positive changes now.”

In December 2021 BP announced it had taken a stake in Gasrec, the UK’s largest dual provider of bio-liquefied natural gas (LNG) and bio-compressed natural gas (CNG) to the heavy goods vehicles industry. 

Picture: BP Images 

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