Market News
Global Fatty Acid Ester Market- Key Developments
- In July 2021, Verbio AG, signed a Memorandum of understanding with Indian Oil Corporation Ltd. The MoU will explore the possibility of creating a Joint Venture Company using Verbio’s technology and expertise in the production of biofuels (biomethane (CBG/BioCNG), bioethanol, and biodiesel) and marketing these biofuels through Indian Oil’s network.
- In March 2021, Renewable Energy Group Inc., collaborated with Optimus Technologies. This collaboration delivers biodiesel to fleets across the USA. With Optimus’ new technology, biodiesel can be utilized as B100 in fleets, i.e., with 100% blended biodiesel.
- In June 2022, Cargill, completed its first advanced biodiesel plant in Ghent, Belgium, called Bioro Biodiesel Refinery, which converts waste oils and residues into renewable fuel. The advanced biodiesel produced at the facility will be used by the maritime and trucking sectors in Europe.
- In May 2022, Oleon, a subsidiary of the Avril Group, started construction of a new production facility in Baytown, Texas, Houston, with an investment of US$ 50 million. This new facility is expected to become operational by the end of 2023 and will produce esters and provide blending services to support the company's growing oil and gas business.
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