GLOBAL BIOENERGIES: France grants to two renewable isobutene derivatives the benefit of public support for sustainable biofuels.
Evry (France), 01 August 2018 - Bio-isobutene incorporated in the form of ETBE and isooctane is on the list of biofuels in the order related to the General Tax on Polluting Activities (TGAP) published in the Journal Officiel dated 18 July 2018 (text #8).
Thanks to public support, the road fuels consumed in France - gasoline and diesel - now contain on average nearly 7% of renewable and sustainable energy, in accordance with the environmental and social criteria adopted by the European Parliament.
With this new joint order by the Minister of Ecological and Inclusive Transition, the Minister of Food and Agriculture and the Minister of Action and Public Accounts, French road fuel distributors, especially oil companies and major retailers, are now being enticed to include these two renewable isobutene derivatives in the formulation of gasoline in addition to traditional sustainable biofuels like ethanol.
The plants to be built in the future to operate the bio-isobutene process will benefit from this order, which materializes as a favorable tax system. Bio-isobutene will be converted on-site into renewable, sustainable compounds, which will be directly usable by distributors to formulate quality gasoline, in accordance with the needs of all drivers, with no restrictions or changes to vehicles or to the distribution network.
According to Bernard Chaud, Director of Industrial Strategy at Global Bioenergies, "This decision further supports the Global Bioenergies project. With this order, we can already look forward to the large scale deployment of our renewable gasoline production process, thus fulfilling a dual promise of an improved carbon footprint by road transportation along with a reduction in particulate emissions, with a positive impact on health".
About GLOBAL BIOENERGIES
Global Bioenergies is one of the few companies worldwide, and the only one in Europe, that is developing a process to convert renewable resources into hydrocarbons through fermentation. The Company initially focused its efforts on the production of isobutene, one of the most important petrochemical building blocks that can be converted into fuels, plastics, organic glass and elastomers. Global Bioenergies continues to improve the performance of its process, to operate its demo plant in Germany, and to prepare the first full-scale plant through a joint venture with Cristal Union, named IBN-One. Global Bioenergies is listed on Euronext Growth Paris (FR0011052257 - ALGBE)
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Contact
GLOBAL BIOENERGIES
Bernard Chaud
Director of Industrial Strategy
Tel: +33 1 64 98 20 50
invest@global-bioenergies.com
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Source: GLOBAL BIOENERGIES via Globenewswire
