DGAP-News: VERBIO Vereinigte BioEnergie AG: VERBIO WELCOMES AND SUPPORTS THE EUROPEAN COMMISSION'S PROPOSAL TO CHANGE BIOFUEL TARGETS
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VERBIO Vereinigte BioEnergie AG: VERBIO WELCOMES AND SUPPORTS THE
EUROPEAN COMMISSION'S PROPOSAL TO CHANGE BIOFUEL TARGETS
14.09.2012 / 09:41
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VERBIO WELCOMES AND SUPPORTS THE EUROPEAN COMMISSION'S PROPOSAL TO CHANGE
BIOFUEL TARGETS
EC'S PROPOSAL BACKS VERBIO'S BUSINESS MODEL
Claus Sauter, CEO of VERBIO, has welcomed the European Commission's call
for at least half the biofuel produced from renewable resources and making
up 10pc of the fuel used in the transport sector to come from waste and
residuals. Finally the sustainable production of carbon-cutting biofuels
not made from crops used for food and feed is in the focus of energy
transition in the transport sector of the EC.
While under the proposal, the quota would remain unchanged, until 2020 no
more than 5pc of CO2 reduction would be allowed to come from conventional
(first-generation) biofuels. The other 5pc would have to stem from waste,
agricultural residuals, cellulose, and algae (second-generation biofuels).
VERBIO has been the world's largest producer of biomethane from
agricultural residuals since 2010, with the resulting biofuel being
available at nearly 100 natural gas service station across Germany in the
meantime. The EC's proposal hence supports VERBIO's business strategy to
limit the use of grain and vegetable oil for producing biofuel in order to
further increase the share of biofuels in the transport sector. VERBIO has
been suggesting for years that an increase in biodiesel and bioethanol use
requires imports. However, recent scandals involving biodiesel imports from
Indonesia and Argentina have shown that such imports for the most part do
not comply with European sustainability requirements-which did not
discourage some mineral oil companies from using them in order to meet
their biofuel quotas.
Furthermore, VERBIO fully agrees with the EC's proposal to raise the
necessary CO2 savings for all biofuels from currently 35pc to at least 50pc
or 60pc for new production plants, thus rewarding the efforts of innovative
biofuel producers in Germany. This will boost biofuels which are
sustainable and thus have a better CO2 balance. The EC's current draft is
completely in line with VERBIO's call for advancing Europe's biofuel
strategy in a responsible and reliable way without challenging the role of
the currently established biofuels, biodiesel and bioethanol.
VERBIO already produces biofuels which slash greenhouse gas emissions by
60-90pc. What is more, the EC's proposal is creating the past due
requirement to introduce second-generation biofuels to the market which are
not produced from food and generate huge CO2 savings. In fact,
second-generation biofuels not produced from food raw materials are
available today. Due to incorrect legal regulations, however, they are not
in demand; also, traditional biodiesel and bioethanol are easier to handle.
Moreover, the EC's proposal supports a sustainable European agriculture in
meeting CO2 savings targets in the transport sector by limiting the
provision of agricultural residuals such as cereal straw, maize straw, and
slurry to local value chains because this is the only way to achieve
substantial CO2 savings.
Now the EC needs to quicklyadopt its proposal to allow the German
government to transpose the guidelines set by Brussels into national law in
a timely fashion so the reduction of CO2 emissions in the transport sector
can be accomplished more quickly, more efficiently, more sustainable and
cost-effectively.
About VERBIO Vereinigte BioEnergie AG (VERBIO)
VERBIO is one of the leading independent producers and suppliers of
biofuels and also the only industrial-scale producer of biodiesel,
bioethanol and biomethane in Europe. Nominal capacity currently amounts to
around 450,000 tons of biodiesel, 300,000 tons of bioethanol and 480
gigawatt hours of biomethane per year. In the production of its highly
efficient fuels, the company uses its own energy-saving production
processes and innovative technologies. The biofuels produced by VERBIO
achieve CO2 reductions of up to 90 % compared with petrol and diesel.
VERBIO supplies its products directly to European mineral oil corporations,
mineral oil traders, independent petrol stations, haulage companies, public
utilities and vehicle fleets. VERBIO AG also markets high-quality pharma
glycerine for the consumer goods and cosmetic industries (glycerine is a
by-product of biodiesel production). VERBIO Vereinigte BioEnergie AG acts
as the management holding company within the Group. The Group's operating
business is run by its subsidiaries VERBIO Diesel Bitterfeld GmbH&Co. KG,
VERBIO Diesel Schwedt GmbH&Co. KG, VERBIO Ethanol Schwedt GmbH&Co. KG,
VERBIO Ethanol Zörbig GmbH&Co. KG and Märka GmbH. VERBIO shares (ISIN
DE000A0JL9W6 / WKN A0JL9W) have been listed on the Prime Standard of the
Frankfurt Stock Exchange since October 2006.
End of Corporate News
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14.09.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: VERBIO Vereinigte BioEnergie AG
Augustusplatz 9
04109 Leipzig
Germany
Phone: +49 (0)341 30 85 30 290
Fax: +49 (0)341 30 85 30 298
E-mail: ir(at)verbio.de
Internet: www.verbio.de
ISIN: DE000A0JL9W6
WKN: A0JL9W
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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