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Share Name Share Symbol Market Type
BASF AG XE:BAS XETRA Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.36 0.53% 68.11 67.81 68.11 68.13 67.26 67.28 3,896,462 16:45:00

Eni, BASF Launch Biofuel R&D Initiative

29/07/2021 2:12pm

Dow Jones News


BASF (XE:BAS)
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   By Ed Frankl 
 

Italian energy giant Eni SpA and German industrial conglomerate BASF SE said Thursday that they have launched a joint research-and-development initiative to reduce the carbon footprint in the transport sector.

The companies said they agreed to develop a new technology to produce bio-propanol that could reduce greenhouse-gas emissions by 65% to 75% compared to fossil fuels.

The cooperation aims to develop the bio-propanol from glycerin, a side product in the production of industrial biodiesel that Eni would buy from European producers, with a BASF catalyst, the companies said.

Bio-propanol produced in this way can be added as "a drop-in biofuel component to gasoline." It has better chemical properties than bioethanol and is therefore a valuable component for the preparation of premium gasoline, Eni and BASF said.

"The opportunity to collaborate with strong industry partners like Eni is a major driver for innovation and growth for us," Detlef Ruff, senior vice president, process catalysts at BASF said.

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

July 29, 2021 09:08 ET (13:08 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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