Spanish bio-based technology company seeks business parnters for new Bio-refinery project. URGENT.
A Spanish technology company has developed and patented a new biorefinery technology to obtain new advanced biofuel for diesel blends, along with other energy and chemical products. Research, testing, pilot plant and scale up have been completed and the company now plans to build its flagship industrial biorefinery in Portugal. Funded with a subsidized loan from Portugal 2020 covering the 50% of the investment. The company seeks partners under joint venture, financial or distribution agreements
Technical Specification or Expertise Sought
The company seeks partners interested in industrialization (engineering/construction), in joint ventures or taking equity interest in the project. Distributors and providers of biorefinery off products and feedstocks (crude glycerine, used cooking oil ) respectively.
The company is looking for synergies and seeks for partners interested in joining their project through different partnerships. Partners sought are: - Feedstock procurers from the waste to energy activities, biorefinery inputs. - Distributors for offtake products from the bio refinery. - Investors. - Industrialization for construction. - Industries from the energy sector for joint ventures. Partnerships considered are: distribution services agreement, financial or joint venture agreement depending on partner role/type and interest.
The bio-based Spanish company first commercial-scale biorefinery for the production of the advanced biofuel, will be located in Sines, Portugal, about 160 kms south of Lisbon, where a favourable location has been found at ZILS, an industrial park with pre-established planning that enables allowances for this type of facility. The company has established a wholly owned subsidiary in Portugal to serve as a Special Purpose Vehicle (SPV). The SPV has secured a subsidy from the Portuguese Government - an € 11.75 million zero-interest loan partially convertible to non-refundable grant up to 60%, granted under the Portugal 2020 scheme, supported by several EU funds, and has also formalized a promise contract to secure the site location. Total capital budget is estimated at ~ € 29 million including capitalised interest and financial fees, development cost and a € 2 million pre-funding of the bank account for working capital purposes. The company is working diligently with a highly professional EPC specialized in waste-to-biofuels to achieve a lower final budget, but has established this as a prudent estimate for the purposes of arranging finance. The facility will be at full commercial scale, with a capacity to produce approximately 35,000 metric tonnes (circa 40 million litres) of biofuel per annum and will target the biofuel and chemical markets of mainly Portugal and Spain. Projected revenues at full capacity are estimated to be in the range of € 50.9 M per annum (2018 unindexed values), 78% of which will come from the sale of biofuels along with the double-counting sustainable biofuel certificates attached to it. Crude glycerine, used Cooking Oil and other feedstocks will be stored in tanks prior to use. Main feedstocks will be: crude glycerine from the adjacent Enerfuel biodiesel plant and from other biodiesel plants in Portugal and Spain, along with Used Cooking Oil. In terms of final products, the base financials have been calculated on a plant operation mode where the main output at first, will be conventional biodiesel, a product already consolidated in the commodity markets. The company will put strong efforts to accelerate the market adoption of its new advanced biofuel and the introduction of the various plant outputs into new applications and markets, which will result in enhanced plant profitability. In terms of industrial risks, the main product and the overall chemical process behind its production are certainly innovative, but the manufacturing process itself is based exclusively on state-of-the-art processes, so, all individual manufacturing steps and equipment involved in the facility will be standard and commonly used in existing biodiesel industry processes. Therefore Technological/industrial risk will be limited to some of the feedstocks and the specific process flow and conditions which have been already tested in scale up conditions. The company seeks international partners from the bio-based industries related fields (biorefineries, feedstock producers, distributors, investors) willing to cooperate under distribution services agreement and financial or joint venture agreements. Ideally partners should be European’s companies willing to join the project under the roles of: - Feedstock procurers, ideally from the waste to energy activities, and in line with the multiproduct lines described. - Distributors for offtake products from the bio refinery. Local and international markets knowledge required.
Advantages and innovations
Advantages and Innovations grouped in terms of location, products/feedstock and technology. 1. Location: a. Proximity to Lisbon and the surrounding will facilitate the sourcing of inputs such as Used Cooking Oil from industries as the catering and food production nearby. b. Plot adjacent to a private Enerfuel biodiesel facility, which will facilitate exchanges of crude glycerine and methanol and biofuel products between the biorefinery and Enerfuel. 2. Products/inputs: The project will take advantage of the multi-feedstock capability of the Spanish company technology and a number of alternative sustainable feedstocks, such as animal fat, POME (Palm Oil Mill Effluent) and microalgae oil, are being considered. The possibility of processing multiple feedstocks will make the project more resilient to feedstock price changes. These alternative feedstocks have already been used successfully to produce the advanced biofuel at smaller scale in pilot facility. 3. Technologies. Furthermore, the Spanish company´s technology allows the bio-refinery to produce a new advanced Biofuel that can be blended with fossil diesel at relatively high proportions (successfully engine-tested up to 20%) while staying in compliance with diesel fuel quality Standard EN590. The new biofuel obtains high marks on the five key criteria for a successful Advanced Biofuel: • Air quality: 30%+ reduction in small particles and 50%+ reductions in NOx and other pollutants; • Climate change: GHG reduction greater than with conventional biodiesel at parity of feedstock; • Engine performance: improved combustion, better lubrication and microbial stability, while keeping power output; • Sustainability: uses crude glycerine, a by-product of biodiesel production, and other non-food, non-crop oils as feedstocks, enabling a circular economy solution; • Economics: more favourable than biodiesel since glycerine is incorporated within the fuel molecular structure (100% atom utilisation).
Intellectual Property Rights (IPR)
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