Evry, France - July 12, 2018 (Investorideas.com Newswire) Global Bioenergies (Euronext Growth: ALGBE) and Audi announced today the signing of a new agreement focused on the implementation of residue usage, preparation of a path to commercialization and engine testing of new blends.
Following the completion of a first series of engine testing and significant progresses of the isobutene bioproduction process, the two companies have agreed to start a new program. The first focus will be the regulatory landscape associated with the conversion of various non-food residue feedstocks (for example wheat straw and wood chips) into renewable gasoline. Another workpackage is dedicated to the preparation of the path to commercialization with third parties. Shipment of a renewable gasoline batch to Audi is also part of the program in order to perform further engine testing.
Marc Delcourt, CEO of Global Bioenergies, states: "Our renewable gasoline combines a global environmental benefit, namely CO2 savings, with the reduction of particles formed in the combustion chambers. Thus such product is an interesting solution to cope with the Paris GHG targets and the severe emission limitations for passenger cars."
Global Bioenergies' renewable gasoline can be blended in high proportion (over 30%) into fossil gasoline. The mix is suitable for any gasoline engine and therefore interoperable with existing car fleets, without any need for modification. Its large scale commercialization will not require any specific storage nor distribution infrastructure, thus creating an efficient option for countries in their efforts to meet their CO2 reduction targets, and for cities willing to improve their air quality.
Reiner Mangold, head of sustainable product development at Audi, adds: "The recent developments at Global Bioenergies support our vision that e-gasoline might be a game changer in the objective to reduce the GHG emissions in the transport sector in a fast and complete way."
About GLOBAL BIOENERGIES
Global Bioenergies is one of the few companies worldwide, and the only one in Europe, that is developing a process to convert renewable resources into hydrocarbons through fermentation. The Company initially focused its efforts on the production of isobutene, one of the most important petrochemical building blocks that can be converted into fuels, plastics, organic glass and elastomers. Global Bioenergies continues to improve the performance of its process, to operate its demo plant in Germany, and to prepare the first full-scale plant through a joint venture with Cristal Union, named IBN-One. Global Bioenergies is listed on Euronext Growth Paris (FR0011052257 - ALGBE)
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