Neste Corp. (Espoo, Finland) announced that it has entered the final phase of testing for renewable gasoline in Sweden and is now advancing the target to complete commercial tests of the fuel, and thereby enabling significant reductions of greenhouse gas emissions from gasoline and hybrid cars.
With Neste’s renewable gasoline, greenhouse gas emissions can be reduced by up to 65%* over the fuel’s life cycle when compared to fossil fuels. The aim for Neste is to improve this figure, to eventually achieve up to 90% emission reduction with the fuel use. This would mean that greenhouse gas emission over the life cycle of the fuel would be equivalent to those from an electric vehicle.
“With Neste’s renewable gasoline, greenhouse gas emissions can be reduced by up to 65% compared to fossil gasoline. Thus, countries could raise their national ambitions to reduce even more greenhouse gas emissions as the industry is able to introduce new, impactful solutions,” says Carl Nyberg, Executive Vice President, Renewable Road Transportation at Neste.
The product fulfills EN228 standard and can be used in both existing and new gasoline and hybrid cars. Renewable gasoline can, therefore, provide yet another tool for the EU to achieve the ambitious goal of reducing greenhouse gas emissions by 55% by 2030 from the levels in 1990.
Tests of the new fuel are ongoing together with Powertrain Engineering Sweden AB, a supplier to Volvo Cars. Powertrain Engineering Sweden, which supplies Volvo Cars and other manufacturers with powertrains and the next-generation hybrid system, is now evaluating Neste’s renewable gasoline.
“We are following the development of renewable fuels, such as Neste’s renewable gasoline, with great interest, and we believe it has great potential. The combination of our products and Neste’s renewable gasoline will allow vehicle owners to reduce greenhouse gas emissions by up to 65 percent,” says Michael Fleiss, CEO for Powertrain Engineering Sweden.
The testing takes place both in a laboratory setting with a free-standing engine as well as through Neste’s own road tests with two vehicles. The purpose of the tests is to study the properties of the fuel and to make adjustments to the fuel, to further reduce emissions before commercial tests. Neste is planning to evaluate the results during the coming months.
By Mary Page Bailey
Eastman is investing up to US$1 billion in building what it says is the world’s largest molecular plastics recycling facility in France. The new facility would use Eastman’s polyester renewal technology to recycle up to 160,000 metric tons of hard-to-recycle plastic waste annually – enough plastic waste to fill Stade de France national football stadium 2.5 times.
Korean battery maker LG Energy Solution has opened the books to investors to raise up to $10.8 billion in the country’s largest initial public offering (IPO), according to a term sheet seen by Reuters. The shares will be sold in a price range of 257,000 won to 300,000 won ($216.19-$252.36) apiece to raise between $9.2 billion and $10.8 billion, the term sheet showed.
The SHYNE (Spanish Hydrogen Network) project is the largest multisectoral consortium in Spain, created to promote the decarbonization of the economy through renewable hydrogen. SHYNE will have a total investment of €3.23 billion euros that will serve to develop more competitive technologies and evolve both the Spanish industry and its infrastructure towards decarbonization, generating more than 13,000 jobs.