There are so many news to cover this week (and last week!) that I’ll start with this one. It was a bit of a surprise that Shell abandoned their biofuel project with Germany-based CHOREN Industries but maybe Shell is cutting down as they’re handling to many biofuel projects these days?? (See some of their activities in next generation biofuels in my ICB article published Oct. 5).
Choren announced last week that Shell sold its shares in the company to remaining shareholders that include a group of Hamburg-based entrepreneurs as well as carmakers Daimler and Volkswagen. Choren and Shell agreed not to disclose any information about this transaction so I guess we’ll just wonder the reason behind this unless somebody will “anonymously” give a tip ; )
Other major Choren shareholder said that they will increase their funding for Choren’s upcoming projects. Shell, however, will still give its support when it comes to technical expertise in next generation biofuels, according to Choren’s CEO Marcel Ulrichs.
Shell started working with Choren in 2005 in the development of biomass-to-liquid (BTL) fuels using mostly wood products and wood-based waste as feedstock. Choren still plans to start its first 15,000 tonnes/year BTL plant in Freiberg in south Germany by next year.