Shell's acquisition of exclusive development and licensing rights for SBI BioEnergy's biofuel technology has given the energy company access to a fuel that captures 14 grams of carbon dioxide per megajoule of energy, compared with petroleum's 94 grams of CO2 emissions. SBI's technology converts waste oils, greases and sustainable vegetable oil into biofuels. We continue to look to create a global low-carbon business, even with the expected large impact of electrification, we see that heavy-duty will be liquid, and that represents a long-term opportunity. The deal is expected to close in early 2014. Shell recently established its NewFuels entity, which seeks to streamline its interests in electric mobility, solar, offshore wind and hydrogen combustion, as well as biofuels.
Shell's acquisition of exclusive development and licensing rights for SBI BioEnergy's biofuel technology has given the energy company access to a fuel that captures 14 grams of carbon dioxide per megajoule of energy, compared with petroleum's 94 grams of CO2 emissions. SBI's technology converts waste oils, greases and sustainable vegetable oil into biofuels. The deal is expected to close in early 2014. Shell recently established its NewFuels entity, which seeks to streamline its interests in electric mobility, solar, offshore wind and hydrogen combustion, as well as biofuels.