bp acquires 30pc stake in Green Biofuels

bp has acquired a 30 per cent stake in Green Biofuels Ltd (GBF), the UK’s largest provider of hydrogenated vegetable oil (HVO).

GBF’s products are made from renewable feedstocks such as vegetable oils, animal oils and fat. The product range includes HVO Gd+, a low emission advanced HVO fuel that can be used as a direct drop-in replacement for diesel.

bp says its investment will support GBF’s growth as it works with businesses looking to transition away from using traditional diesel fuel in their assets, such as transport vehicles, temporary generators and construction machinery.

HVO Gd+, which includes GBF’s additives, can be used in diesel engines without the need for modifications or capital expenditure.

HVOs have the potential to play an important part in supporting lifecycle emission reductions in many sectors, providing a commercially viable decarbonisation option for fleet owners, construction companies and vessel operators as HVOs are a drop-in replacement fuel.

By using HVO fuels, operators of diesel engines typically save lifecycle greenhouse gas emissions by 87 per cent and additionally improve local air quality.

In-field and controlled environment independent tests have shown that compared to standard diesel emissions, HVO Gd+, which is often made from waste products, achieves up to 85 per cent reductions of particulates and up to 30 per cent reductions of nitrogen oxides emissions.