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Add 'Portugal's Galp Plans to Start Producing Biofuels In 2025'

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      Portugal%27s-Galp-Plans-to-Start-Producing-Biofuels-In-2025.md

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Portugal%27s-Galp-Plans-to-Start-Producing-Biofuels-In-2025.md

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<br>LISBON, Dec 19 (Reuters) [- Portugal's](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) Galp Energia expects to [start producing](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) [biodiesel](https://www.businessnews.com.au/Company/Mission-NewEnergy) and biojet fuel from waste in an industrial-scale system it is [developing](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) at its [Sines refinery](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) in 2026, the company, which is mostly an [oil manufacturer](https://stocktwits.com/symbol/MNEL) and refiner, said on Thursday.<br>
<br>Last year Galp entered into a 75%-25% [joint venture](https://www.bloomberg.com/profile/company/MNELF:US) with Japan's Mitsui to invest 400 million euros ($415 million) in the [Hydrogenated Grease](https://pitchbook.com/profiles/company/51278-86) (HVO) plant, which will have a [production capacity](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) of 270,000 metric lots each year.<br>
<br>It will [transform waste](https://forest500.org/rankings/companies/mission-newenergy-limited) products, such as utilized cooking oils, into eco-friendly [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) and biojet fuel, also called sustainable air travel fuel (SAF), using [green hydrogen](https://www.crunchbase.com/organization/mission-newenergy) [produced](https://www.google.com/search?kgmid=/m/0cqd_rb) by an powered by wind or solar energy.<br>
<br>Galp stated in a [statement](https://www.pinterest.com.au/missionnewenergy/) it got on Wednesday the 3 [reactors](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) to [process](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) biofuels, which will allow the HVO system to "produce SAF and [biodiesel](https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053) in 2026 ... positioning Galp at the forefront of establishing low-carbon solutions important for the energy transition".<br>
<br>Galp is also [investing](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) 250 million euros in a 100 megawatt (MW) electrolyser system to produce green [hydrogen](https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4) to power the [refinery](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) in Sines. ($1 = 0.9637 euros) ([Reporting](https://www.zoominfo.com/c/mission-newenergy/346542889) by Sergio Goncalves
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