European Bank seeks innovative ways to produce bio-fuel
Biofuelsandbiomass.energy-business-review.com, March 11th
The European Bank for Reconstruction and Development (EBRD) is seeking new and innovative ways to produce bio-fuels from wastes and agricultural residues
EBRD stated that the use of agricultural residue and biomass resources for bio-fuel generation can simultaneously improve the agribusiness sector without giving head to food security issues.
The agency said in its statement, "Next-generation biofuels produced from waste and agricultural residues can help save energy and improve the sustainability of companies operating in the agribusiness sector."
EBRD agribusiness team director Gilles Mettetal added, "Turning waste like straw or manure into biofuels or biogas can help agribusiness companies become less dependent on expensive external energy sources and as a result make them more sustainable and competitive."
The lending agency has, meanwhile, collaborated with several agribusiness companies such as Agria Group, Bloomberg New Energy Finance and Beta Renewables for its bio-fuel technology program.
EBRD said that the new bio-fuel technologies do not compete with food crops and agriculture land use although they can deliver energy resources in a more environmentally sustainable manner.
Last year, the agency has invested €900m in agribusiness companies through both debt and equity.