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Portuguese energy company Galp (OTCPK:GLPEF) (OTCPK:GLPEY) said Monday it is creating a 75-25 joint venture with Japan’s Mitsui (OTCPK:MITSF) (OTCPK:MITSY) to spend €400M (~$426M) on an industrial scale plant to produce biodiesel and biojet fuel from waste at its Sines refinery.
Galp (OTCPK:GLPEF) (OTCPK:GLPEY) also will spend €250M on its own to build a 100 MW electrolyzer unit to produce renewable hydrogen to power the refinery, with both plants expected to start operations in 2025.
The hydrogenated vegetable oil plant, which will have a production capacity of 270K metric tons/year, will transform waste materials such as used cooking oils into sustainable aviation fuel using green hydrogen produced by the electrolyzer, which will have a capacity of 15K tons/year of green hydrogen.
The Sines refinery is Portugal’s biggest consumer of hydrogen from natural gas, although Galp (OTCPK:GLPEF) (OTCPK:GLPEY) wants eventually to produce zero-carbon fuel there.
Image and article originally from seekingalpha.com. Read the original article here.