Spanish oil firm Nexolub and Life for Tyres (L4T) have announced a 10-year offtake agreement for the supply of renewable biofuel to be produced at a new recycling plant under construction in Puertollano, Spain.
Nexolub Signs Offtake Agreement with Life for Tyres
This agreement anticipates a volume of up to 10,000 tonnes per year of the new advanced hydrocarbon.
With an annual processing capacity of around 30,000 tonnes of used tyres, the plant will be operational early next year and will be the first in Spain and is claimed to be the largest in Europe capable of transforming tyres into advanced biofuel and other high-quality secondary raw materials.
Marc Monllau, CEO of Nexolub, said: “The current environmental challenges require the development of sustainable raw materials that can be successfully integrated into the supply chain of conventional petrochemicals, as well as in maritime transport.
“This agreement, the first with Life for Tyres, will be the ideal framework for building the expansion strategy of the next plants planned in Spain. It allows us to offer solutions linked to the circular economy, a product in growing demand due to the transition momentum that the hydrocarbon sector is going through.”
The new advanced biofuel will be International Sustainable Carbon Credit (ISCC) certified.
Located in the La Nava industrial estate in Puertollano, Spain, Life for Tyres plans to start up the plant at the beginning of January, where 38 direct jobs and 250 indirect jobs will be created and which has required an investment of almost 30 million euros.
Source: Bio-fuels News