Sweden’s largest oil company, Preem, will invest approximately €33.6 million towards redeveloping their Gothenburg Port Refinery.
Since 2010, the site has acted as a base of operations in the development of Evolution Diesel (ED), a more environmentally sustainable alternative than that of the typical fuel.
Evolution diesel is a composite made up by processing tall oil with regular fossil-based diesel. The end result is more sustainable and contains one-third renewable content.
Asides from tall oil, other vegetable or animal-derived input materials can be used in the production process, including rapeseed oil.
Since the refineries opening, Preem has been producing up to 400,000 tonnes of ED annually. However, with the coming investment they are hoping to double this number.
Commercial Director at Gothenburg Energy Port, Jill Soderwaall noted the sense of pride that the port has with being associated to the project: “We take a very positive view of the investment being made by Preem in Gothenburg and we support wholeheartedly the development of more renewable products that is currently taking place at the Energy Port.”
Preem President, Petter Holland (right), said: “Our investment is completely in keeping with the times. Sweden needs a much higher proportion of green fuel if it is to meet the government's environmental targets. Diesel consumption has increased substantially in recent years and we feel that our product has significant market potential.”
Currently, ED is only distributed to ports located in Sweden, however it is hoped in the future that Preem can expand, exporting the bio fuel globally.