Croatian oil and gas company INA [ZSE:INA] has signed a licence agreement with French company Axens for the supply of its Futurol cellulosic ethanol technology at INA's future advanced bioethanol production plant to be developed Sisak, near the capital Zagreb, Axens said.
In addition, INA has also signed a contract for a basic engineering design of the advanced bioethanol production plant in Sisak with Axens, the latter said in a statement on Monday.
"This project is in line with the company’s development guidelines and INA Downstream 2023 New course program. Moreover, it fits into the EU Green Deal guidelines and empowers the transformation of the industry in sustainable direction by having advanced biofuel with negative CO2 footprint as a final project target," INA's operating director for refining and marketing, Stjepan Nikolic, said in the statement.
"Choosing the technology and signing the contract for basic engineering design for the advanced bioethanol plant is an important step towards the final investment decision," he added.
The Futurol technology will enable INA to produce 55,000 tonnes, equivalent to 70 million liters, of advanced ethanol in synergy with green energy production, based on lignocellulosic feedstock such as agricultural residues and energy crop miscanthus, Axens said.
INA Downstream 2023 New Course transformation programme aims to turn the company’s refining and marketing segment into a sustainable and profitable business, INA has said.
The programme also includes the concentration of INA's crude refining activities in its refinery in the coastal city of Rijeka and the conversion of the Sisak refinery into an industrial site to serve as a base for bitumen production, a logistic hub and potentially for lubricant production and a bio-component refinery, subject to further investment decisions.
In January, Belguim's De Smet Engineers & Contractors (DSEC) said it has started basic engineering works on INA's second generation (2G) ethanol plant project, covering the OSBL (Outside Battery Limits) portion of the project for the plant that will be built in Sisak and will feed on locally grown miscanthus and wheat straw.
In September, INA said it completed testing of the energy crop miscanthus as a source of bio-fuel as part of a programme focused on ensuring the sustainability and profitability of its refining system.
INA's shares closed flat at 3,060 kuna ($463/407 euro) on the Zagreb bourse on Monday. They did not trade at opening on Tuesday.
(1 euro = 7.51063 kuna)
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