Mitsui and Galp, Portugal's largest energy company, have agreed to collaborate on promoting the production of Hydrotreated Vegetable Oil (HVO) and Sustainable Aviation Fuel (SAF).
The agreement establishes a joint venture company for HVO and SAF production. Galp will hold a majority stake (75%), while Mitsui will hold a 25% stake.
HVO, derived from used cooking oil and animal and vegetable fats and others, can be a biofuel alternative to diesel for internal combustion engine vehicles like buses and trucks. Similarly, SAF offers a biofuel alternative to jet fuel for airplanes.
Demand for both fuels is expected to rise in the future, particularly in Europe, which actively promotes biofuel policies due to their eco-friendly nature and low greenhouse gas emissions.
Beyond investment in manufacturing, Mitsui will play a role in securing raw materials, primarily from Asia, and establishing sales channels, fostering the business across the entire value chain.
If you are interested in introducing renewable diesel and sustainable aviation fuels, please contact us by clicking on the "Contact Us" link below.
