Developing economies around the world are creating a massive increase in demand for liquid transportation fuels. This is causing additional strain on the markets for conventional petroleum-derived fuels, already facing scarcity due to slow growth of petroleum supplies. Market volatility and high prices increase support and awareness of alternative fuels.
Traditional alternative fuels, such as ethanol made from the fermentation of sugars and starches, and biodiesel made from the chemical processing of plant and animal oils, have suffered from incompatibility with existing fuel infrastructure, a dependence on single feedstocks and a lack of high-value co-products to provide robust process economics.
Elevance’s novel bio-refinery technology enables economically competitive production of biodiesel and bio-based “green diesel” to replace petrochemical diesel and jet fuel.
Our technology is among the only commercial technologies which can:
- Manufacture molecularly identical, infrastructure-compatible, drop-in fuels to replace diesel and jet fuel
- Utilize multiple different commodity feedstocks
- Simultaneously co-produce high value specialty chemicals for attractive overall process economics.
This rapidly emerging market provides additional growth opportunities for our business, but other market segments currently command higher returns and higher priority for Elevance resources. Our current focus in the fuels segment is simply to ensure that the products we can manufacture meet industry standards for this huge market.