Latest News
Forestry Investment News
Shell announces plans to invest in wood biofuels
20/03/2009
Energy giant, Shell, has announced it is to concentrate much of its future investment in developing next generation biofuels.
The next generation of biofuels do not use food crops, instead relying on forestry waste woodchip. Shell has already revealed it is teaming up with Germany-based CHOREN, and is developing a demonstration plant to make fuel from wood chip.
Shell is also increasing investment in Canada-based Codexis, which is developing cellulose-based biofuels.
The news of the more focused investment is a different approach for Shell, which has previously invested widely in renewables such as wind, solar and hydro power. However, it says it expects 80% of the world’s energy to still come from fossil fuels in 2025 and is looking to invest in carbon capture and storage solutions.
Shell CEO, Jeroen van der Veer says it is a more focused approach for Shell, “looking to the 2009/2010 timeframe, Shell will be more focused on biofuels and really that is the first generation activities that meet our corporate and social responsibility criteria and research into the next generation technologies. We will also continue looking into CO2 carbon capture and storage."
The next generation of biofuels do not use food crops, instead relying on forestry waste woodchip. Shell has already revealed it is teaming up with Germany-based CHOREN, and is developing a demonstration plant to make fuel from wood chip.
Shell is also increasing investment in Canada-based Codexis, which is developing cellulose-based biofuels.
The news of the more focused investment is a different approach for Shell, which has previously invested widely in renewables such as wind, solar and hydro power. However, it says it expects 80% of the world’s energy to still come from fossil fuels in 2025 and is looking to invest in carbon capture and storage solutions.
Shell CEO, Jeroen van der Veer says it is a more focused approach for Shell, “looking to the 2009/2010 timeframe, Shell will be more focused on biofuels and really that is the first generation activities that meet our corporate and social responsibility criteria and research into the next generation technologies. We will also continue looking into CO2 carbon capture and storage."
RSS