A group of companies including Global Bioenergies, Neste and TechnipFMC have been awarded the money by the European Commission to demonstrate technology that can convert softwood residues into isobutene derivatives for use in gasoline and jetfuel production. Global Bioenergies announced the start of the three-year project on 14 May. The programme’s goal is to convert ‘undervalued’ softwood residues into isobutene and convert that into gasoline and jetfuel. A new kind of biorefinery that can generate high-performance drop-in biofuel and biojetfuel is being developed to do this. Global Bioenergies will use its isobutene technology along with techniques developed by with Sekab and Neste as part of the effort. Of the €13.9 million ($16.5 million), €5.7 million has been awarded to Global Bioenergies, which is leading the group of organisations working on the project. The other participants are Graanul Invest, Repsol, Peab Asfalt, SkyNRG, Ajinomoto Eurolysine, IPSB, TechnipFMC and Linz University. The total budget for the project is €19.7 million, with the €5.7 million not covered by EU grants being contributed by the companies involved. The project will demonstrate the new value chain for softwood forest residues at cubic meter scale by combining technologies and know-how: The money is being administered by the European Commission’s Innovation and Networks Executive Agency (INEA), which supports the Commission, project partners and stakeholders by offering expertise and programme management. It is expected that the INEA will manage a budget of up to €34.1 billion for 2014-2020 programmes.
European ##sco will invest € 13.9 m ( $ 3 m ) into a three - year project converting softwood residues into isobutene derivatives , which can be used to produce gasoline and jet fuels . The project was announced on 14 May and will be supported by several Bioenergies , other partners will include Neste and TechnipFMC . The Commission 's Innovation and Risk Executive Agency will provide expertise and risk management .