NTR invests €30m in German bio-fuel operation
NTR plc has today announced an initial €30m investment in Emerald Bio-diesel GmbH, a bio-diesel facility in Germany.
Emerald Bio-diesel GmbH, in which NTR plc is the major shareholder, will shortly commence construction of an integrated oil mill and bio-diesel facility in the state of Mecklenburg-Vorpommern, approximately 100 kilometres north of Berlin.
The facility will be in production before the end of 2006 and will initially produce 50 million litres of bio-diesel from rapeseed oil.
This will be up-scaled to 150 million litres by the end of 2008. Locally grown rapeseed will be used as the main raw material to be supplied under a long-term contract by the region’s leading agricultural co-operative. The bio-diesel is destined for the German transport market and arrangements are already in place with large transport companies.
“Our entry into the bio-diesel sector is compatible with NTR’s existing environmental services businesses and will complement our expertise in integrated waste management and recycling, renewable energy, water infrastructure and wastewater treatment,” said Jim Barry, chief executive, NTR plc.
“We have been particularly encouraged in this initiative by the support provided by the Federal Government in Germany, through the favourable taxation regime it has in place for bio-fuel production.”
