Crude tall oil (CTO) refiner Fintoil is going ahead with plans to invest US$121.6M (€100M) in a new refinery in the Finnish port of HaminaKotka, Bioenergy International reported on 9 February.
The company said it expected the 200,000 tonnes/year plant was expected to start operation in the summer of 2022.
The plant would refine CTO, a by-product of the kraft pulp process, to produce feedstock for second generation renewable diesel (HVO) and would use other fractions from its process to supply the chemicals, foodstuffs and pharmaceuticals industries, Bioenergy International said.
CTO is classified as a sustainable feedstock for advanced biofuels in the EU’s Renewable Energy Directive (RED II).
The climate footprint of CTO derivatives was up to 90% lower than its fossil counterparts, according to Flintoil, which meant its new biorefinery would bring a 400,000 tonne reduction – around 1% of Finland’s total emissions – in CO₂ emissions.
“Our products will quickly make a major impact in reducing emissions, which directly aids the Finnish government in its aspirations to reach carbon neutrality,” Fintoil CEO Jukka Ravaska was quoted as saying.
Fintoil, which is partly owned by Finnish wealth management group Taaleri, refines CTO for second generation biofuel production and the chemicals, food and pharmaceuticals industries.