Germany biofuels firm Verbio wins EU grant for biomethane tech

20 December 2012 18:45  [Source: ICIS news]

LONDON (ICIS)--Verbio has won a €22.3m ($29.7m) EU grant for its biomethane technology, the Germany-based biofuels firm said on Thursday.

The funding was granted under the EU’s New Entrants Reserve (NER 300) programme to promote projects that reduce Europe’s carbon footprint.

Verbio’s technology converts straw to biomethane. In Germany, biomethane contributes almost as much to the country’s biofuels quota as 10%-bioethanol fuel (E10) - without using up food crops, the company said.

Verbio CEO Claus Sauter said the award will encourage Verbio to increase its production of biofuels made from biomethane.

However, in order for biomethane to compete against subsidised biodiesel and bioethanol Germany’s government needed to put in place a reliable regulatory framework, Sauter added.

Earlier this month, Verbio announced it was halting investment plans because of an uncertain regulatory environment for biofuels in Germany and the EU.

In related industry news, Finland’s forestry and paper group UPM said this week it won a €170m grant under NER 300 for a wood-based bio-refinery project it may build in France.

($1 = €0.75)


By: Stefan Baumgarten
+1 713 525 2653



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