04 March 2011 16:44 [Source: ICIS news]
TORONTO (ICIS)--Germany's renewable fuels firm CropEnergies is confident about its outlook for 2011 and beyond, even though the country’s launch of 10%-bioethanol blended gasoline (E10) has stalled, the company said on Friday.
Germany's demand for E10 remains low as drivers fear the fuel could damage car engines, leaving the country's refiners with unsold stock of E10 and prompting them to reduce E10 production.
CropEnergies said the main reason for ?xml:namespace>
CropEnergies said drivers’ fears were not justified and added that E10 had been available as a standard fuel in the
CropEnergies said that with the implementation of the EU’s Renewable Energies Directive, the market for bioethanol in Europe was expected to grow considerably over the next few years, regardless of the current difficulties in
Refiners trade group MWV welcomed Bruderle’s initiative.
The group said while about 90% of cars of
CropEnergies’ share price was up 11% to €6.06 on
On Thursday, the shares fell almost 15% when media reported that refiners would pull E10 from the market.
MWV quickly dismissed those reports, insisting it had no plans to pull E10, which so far had been introduced at about 45% of
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