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

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

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+<br>LISBON, Dec 19 (Reuters) [- Portugal's](https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/) Galp Energia anticipates to begin producing [biodiesel](https://www.investing.com/equities/mission-newenergy-ltd-company-profile) and [biojet fuel](https://www.crunchbase.com/organization/mission-newenergy) from waste in an industrial-scale system it is [developing](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) at its [Sines refinery](https://www.zoominfo.com/c/mission-newenergy/346542889) in 2026, the business, which is mainly an [oil manufacturer](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) and refiner, stated on Thursday.<br>
+<br>Last year [Galp participated](https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/) in a 75%-25% joint [venture](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) with [Japan's Mitsui](https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm) to invest 400 million euros ($415 million) in the [Hydrogenated Vegetable](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) Oil (HVO) plant, which will have a production capability of 270,000 metric loads each year.<br>
+<br>It will change waste products, such as [utilized cooking](https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608) oils, into [sustainable](https://pitchbook.com/profiles/company/51278-86) [biodiesel](https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd) and biojet fuel, also called sustainable aviation fuel (SAF), using [green hydrogen](https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price) produced by an electrolyser powered by wind or solar power.<br>
+<br>Galp said in a [statement](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) it received on Wednesday the 3 reactors to [process](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) biofuels, which will allow the [HVO unit](https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html) to "produce SAF and [biodiesel](https://www.google.com/search?kgmid=/m/0cqd_rb) in 2026 ... placing Galp at the leading edge of developing low-carbon solutions necessary for the energy transition".<br>
+<br>Galp is also [investing](https://www.proactiveinvestors.co.uk/companies/news/159352/mission-newenergy-debt-free-focused-on-biofuel-joint-venture-60797.html) 250 million euros in a 100 [megawatt](https://pitchbook.com/profiles/company/51278-86) (MW) electrolyser system to produce green hydrogen to power the  in Sines. ($1 = 0.9637 euros) ([Reporting](https://www.crunchbase.com/organization/mission-newenergy) by Sergio Goncalves