Austria's OMV, AustroCel Cooperate to Supply Advanced Bioethanol
October 03 2019 - 5:23AM
Dow Jones News
By Giulia Petroni
Austria's OMV AG (OMV.VI) said Thursday it signed an agreement
with AustroCel Hallein GmbH to supply advanced bioethanol in an
effort to meet sustainability goals.
AustroCel is investing 42 million euros ($46 million) in the
construction of the bioethanol plant.
"When completed, we should be able to replace around one percent
of gasoline consumption in Austria and reduce CO2 emissions by
approximately 50,000 tons," said AustroCel Chief Executive Joerg
Harbring.
Advanced bioethanol is a second-generation biofuel whose
components are derived from a sustainable resource base.
Construction work is underway in the city of Hallein and the
first supplies of bioethanol are expected to leave the facility in
early 2021, OMV said.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
October 03, 2019 05:08 ET (09:08 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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