In the UK, global oil and gas major bp plc has announced that it has acquired a 30 percent stake in the UK’s largest provider of hydrogenated vegetable oil (HVO). The product range includes HVO Gd+, a low emission advanced HVO fuel that can be used as a direct drop-in replacement for diesel.
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Founded in 2013, GBF is the UK’s largest provider of hydrogenated vegetable oil (HVO), having delivered over 55 million litres of HVO products to the UK market over the past two years.
HVO Gd+, which includes GBF’s additives, is a drop-in fuel that can be used in diesel engines without the need for modifications or capital expenditure.
Expand biofuels portfolio
GBF’s products are made from renewable feedstocks such as vegetable oils, animal oils, and fat, and the investment in GBF will expand bp’s global biofuels portfolio and its lower carbon solutions for UK customers, in line with its strategic aim of growing its bioenergy businesses as it transitions to become an integrated energy company.
By using HVO fuels, operators of diesel engines typically save lifecycle greenhouse gas (GHG) emissions by 87 percent and additionally improve local air quality.
Independent tests at the Millbrook specialist vehicle testing facility have shown that compared to standard diesel emissions, HVO Gd+ has up to an 85 percent reduction in particulate matter (PM), and up to a 30 percent reduction in nitrogen oxides (NOx), thanks to Green Biofuels’ additive.
Our mission is to support the net-zero energy transition by providing an immediate solution that makes a difference to carbon and air pollution emissions today. Our fuels provide businesses the time to transition to new technologies when they are proven both economically and operationally. We are proud to be partnering with a company like bp, which recognizes the urgency of making positive changes now, said William Tebbit, CEO of Green Biofuels.
According to bp, this investment is another example of its work to help decarbonize hard-to-abate sectors. In December 2021 bp announced it had taken a stake in Gasrec – the UK’s largest dual provider of liquified renewable natural gas (bioLNG) and compressed biomethane natural gas (bioCNG) to the heavy goods vehicles (HGV) industry.
We are delighted to be working with Green Biofuels, which are at the forefront of HVO supply in the UK market, providing their customers with solutions to help them take steps to decarbonize today. We look forward to supporting their continuing growth and working together on these immediately available alternatives. This investment further expands our biofuels portfolio, as we transition to become an integrated energy company, said Sven Boss-Walker, SVP Refining & Products Trading at bp.
