EMEA News
HutanBio Partners with Utopia for Algae-Based Biofuel Production in Oman
UK-based company HutanBio and biofuels producer Utopia are partnering to produce large-scale algae-based biofuels in Oman.
The agreement will see Utopia use HutanBio’s proprietary ‘green crude’ as a key feedstock as the companies look to expand algae-derived fuel production, Manshu Agarwal, CEO of HutanBio, said in a LinkedIn post on Monday.
Hutanbio has been developing third-generation biofuels derived from microalgae for use as marine fuels, SAF and road diesel.
Utopia already produces biofuels in Oman through its majority ownership of the WAKUD refinery and is seeking to scale output under the new partnership.
Agarwal said the offtake arrangement marks “a major step forward” for both firms and validates HutanBio’s “low-cost industrialised approach to large-scale algae cultivation”.
The company’s production process is centred around its proprietary Sphaerica algae strain, which it describes as highly productive and robust.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| EMEA Average | 917.50 | 14.00 | 1740.00 | 21.00 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
Popular Now More
-
Oct 23Rotterdam's bunker sales recovered slightly in Q3 from the previous quarter, but volumes remained well below year-earlier levels. -
Oct 23The acquisition includes eight bunkering vessels and a long-term lease for 28,000 m3 of tank capacity in Turkey.