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| Name | Symbol | Market | Type |
|---|---|---|---|
| Omv Ag Bearer (PK) | USOTC:OMVKY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.0695 | -0.59% | 11.77 | 11.76 | 12.00 | 12.00 | 11.77 | 12.00 | 4,215 | 21:00:29 |
From May 2019 to May 2024
By Giulia Petroni
OMV AG said Thursday that it plans to invest around 30 million euros ($36.2 million) to build a pilot plant that produces second-generation biofuels at its Schwechat Refinery in Austria.
The Austrian oil-and-gas company said the plant, which will become part of the existing value chain at the refinery, will use a catalyst to produce propanol from glycerin.
"A typical refining process will see the waste-based substance glycerin turned into bio-alcohol, which when added to gasoline reduces its CO2 footprint," it said.
The plant's capacity will be 1.25 million liters of propanol per year, leading to a carbon-dioxide reduction of around 1,800 metric tons, according to OMV. It is expected to be operational in 2023.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
March 04, 2021 04:37 ET (09:37 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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