bp agreed to acquire Bunge’s 50% holding interest in its bp Bunge Bioenergia S.A. joint venture, one of Brazil’s leading biofuels-producing companies. Upon completion, bp will become sole owner of the industrial scale sugarcane and ethanol business, enabling bp to accelerate value creation through integration with bp’s trading and technology capabilities.
bp and Microsoft Corp. agreed to collaborate as strategic partners to further digital transformation in energy systems and advance the net zero carbon goals of both companies. This includes a co-innovation effort focused on digital solutions, the continued use of Microsoft Azure as a cloud-based solution for bp infrastructure and bp supplying renewable energy to help Microsoft meet its 2025 renewable energy goals.
BP, Virent Inc. and Johnson Matthey (JM) signed an agreement that will further advance the commercialization of Virent’s Bioforming® process for production of bio-paraxylene (PX), a key raw material for the production of renewable polyester.
Rubbish is about to take off, thanks to BP’s interest in turning household waste into low carbon jet fuel. The chemical process behind the technology that can turn rotting organic matter into liquid fuels has been around 100 years. But, recent developments, including the use of ‘clever baked beans cans’, have transformed its commercial potential, leading BP-backed US start-up Fulcrum Bioenergy to use it to produce biojet fuel.
Butamax Advanced Biofuels LLC, a 50/50 joint venture between BP and DuPont, combining expertise in fuels with industrial biotechnology, announced the acquisition of Nesika Energy, LLC and its state-of-the-art ethanol facility in Scandia, Kansas. Butamax will now start the detailed engineering work to add bio-isobutanol capacity to the facility, while continuing to produce ethanol before and after adding this capacity.
The Energy Technologies Institute is seeking partners for a new bioenergy project which aims to improve understanding of the future of biomass logistics in the UK.
The ETI is a public-private partnership between global energy and engineering companies, such as BP and Shell, and the UK Government. Its role is to act as a conduit between academia, industry and the government to accelerate the development of low carbon technologies. It brings together engineering projects that develop affordable, secure and sustainable technologies to help the UK address its long term emissions reductions targets as well as delivering nearer term benefits.
Despite the dramatic recent weakening in global energy markets, ongoing economic expansion in Asia – particularly in China and India – will drive continued growth in the world’s demand for energy over the next 20 years. According to the new edition of the BP Energy Outlook 2035, global demand for energy is expected to rise by 37% from 2013 to 2035, or by an average of 1.4% a year.
IL BIOECONOMISTA 