In France, Global Bioenergies is among the many biofuel producers suffering from $35 oil and is relying on cheap sugar when the European sugar production quotas end in September 2017 in order to be viable. Without oil at $100, the company’s technology requires tax incentives to make economic sense. Its stock price has fallen 50% since May when oil prices again began to slide after investors became nervous about potential profitability. Even so, it plans to develop its first plant in the US this year and has agreed with Audi to begin developing a way to use its isobutene technology with carbon dioxide as feedstock. Audi may eventually take less than 1% shareholding in the company as well.
Global Bioenergies: The Digest’s 2015 5 Minute Guide
Category: Producer News
This articles was originally posted at: http://www.biofuelsdigest.com/bdigest/2016/01/04/global-bioenergies-teams-with-audi-plans-a-us-facility-and-cant-compete-with-cheap-oil/ on