bp buys into Green Biofuels

Oil giant bp has boosted interest in HVO as a diesel replacement fuel by taking a 30 per cent share in Green Biofuels: the UK’s largest provider of the non-fossil fuel, which has been much touted by DAF and other manufacturers as a sustainable ‘pour-in’ replacement for conventional diesel.

Green Biofuels was founded in 2013, and has delivered more than 55 million litres of HVO products to the UK market over the last two years. Its HVO Gd+ contains an additive pack making it suitable for use in truck diesel engines, gensets and construction machinery.

Using it instead of conventional diesel is claimed to reduce lifecycle greenhouse gas emissions by 87 per cent. HVO Gd+ is also said to have reduced particulate emissions by up to 85 per cent and NOx emissions by up to 30 per cent during testing at Millbrook.

Using the fuel does not require any modifications to the majority of modern diesel engines, and the main ingredient of the fuel, hydrogenated vegetable oil, is made from plant and animal fats that would otherwise be wasted.

Sven Boss-Walker, senior vice-president of refining and products trading at bp, said: “We are delighted to be working with Green Biofuels, who 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.”

William Tebbit, CEO of Green Biofuels, said: “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 recognises the urgency of making positive changes now.”

bp says its investment will support Green Biofuels’ growth as it collaborates with operators looking to transition away from diesel fuel – while for bp itself, the move represents an expansion of both its global biofuels portfolio and its range of lower carbon solutions for UK-based customers. The deal follows bp’s 28.57 per cent buy-in of Gasrec, the UK’s largest provider of biogas fuel to the road transport sector.