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Monday, 17 July 2017

St1 Nordic Oy (FI) - St1 plans to extend its advanced biofuels production into renewable diesel

St1 Nordic Oy    

Published: 10:00 CEST 17-07-2017 /GlobeNewswire /Source: St1 Nordic Oy / : ST1J0412519 /ISIN: FI4000097191

St1 plans to extend its advanced biofuels production into renewable diesel


St1 NORDIC OY, COMPANY RELEASE 17 JULY 2017 AT 11:00 EET

St1 plans to extend its advanced biofuels production into renewable diesel


St1 invests in a new hydrogen manufacturing unit, which will be built in St1 Refinery in Gothenburg, Sweden. This is the first step in the series of planned investments, which will enable St1 Refinery to start the production of renewable diesel in 2020. The construction work of the new hydrogen unit will start immediately and is estimated to be completed by the end of 2018. This hydrogen manufacturing unit investment project targets to enable a 200.000 tonnes annual capacity of renewable diesel production. The value of the first stage of the project is 40 MEUR.
 

St1 continues to develop also new advanced ethanol production technologies with a strong focus on ligno-cellulosic feedstocks. The first Cellunolix® plant to manufacture advanced ethanol from sawdust targets to reach full production speed during 2017 in Kajaani Finland. St1 already operates dispersed ethanol plants producing advanced waste-based ethanol for transportation, e.g. using bakery waste as feedstock. One of the plants is integrated into the St1 refinery in Gothenburg.   
 

The objective of St1's long-term advanced renewable fuels strategy is to enhance company's competitiveness when fulfilling the renewable energy and GHG reduction requirements in its home market i.e. Finland, Sweden and Norway.
 

For further information about the refinery investment, please contact:

Bo-Erik Svensson, Managing Director, St1 Refinery, tel. +46 31 744 6250, bo-erik.svensson@st1.se
 

St1 is a Nordic energy group whose vision is to be the leading producer and seller of CO2-aware energy. The company researches and develops economically viable, environmentally sustainable energy solutions. St1 consists of two sister groups: St1 Nordic focuses on fuels marketing activities in Finland, Sweden and Norway and on renewable energy solutions such as waste-based advanced ethanol fuels and industrial wind power. Company has 1400 St1 and Shell branded retail stations in Finland, Sweden and Norway. The sister group St1 Group focuses on oil refining. Headquartered in Helsinki, the company employs currently 700 people in Finland, Sweden and Norway. St1 Group is planned to merge into St1 Nordic on 31 December 2017.  www.st1.eu

 





This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of NASDAQ OMX Corporate Solutions clients. Source: St1 Nordic Oy, PL 100, Helsinki 00381, Suomi
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