08 July 2011 14:41 [Source: ICIS news]
LONDON (ICIS)--German biofuels firm CHOREN has filed for insolvency because of difficulties in financing the start-up of a synthesis-gas demonstration plant, officials said on Friday.
Lawyer Bruno Kubler, one of CHOREN’s court-appointed administrators, said the insolvency affects the company's main business at ?xml:namespace>
CHOREN's units in the
Kubler said CHOREN, which employs about 290 people in
“CHOREN is an innovation leader in a growth sector and has a competitive technology,” he added.
CHOREN is a second-generation biofuels technology firm focussed on processing biomass such as wood and wood wastes into synthesis gas, which is then turned into fuels.
CHOREN’s stakeholders include carmakers Daimler and Volkswagen, among others. Shell, which used to be a stakeholder, exited CHOREN in 2009.
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