Energy Global Autumn 2021 Issue

Page 68

B

y upgrading their existing plants to utilise renewable resources, edible oil refineries can increase the sustainability of their operations while also opening up new commercial opportunities. Selecting the right mass transfer technology, such as advanced purification units, is crucial to creating highly effective processing facilities. These, in turn, enable refineries to thrive in the alternative fuel marketplace, maximising throughput, product quality, and recovery rates. The fast-growing demand for alternative fuels obtained from renewable resources, such as plant-based materials, brings with it key opportunities for established businesses in the vegetable oil, renewable fuel or biofuel sectors. In addition, businesses are able to deliver these products by leveraging their existing infrastructures, kick-starting their entry into a highly profitable market, which was valued at over US$141 billion (nearly £103 billion) in 2020.1,2 One such example is bio-based diesel. The market for this renewable fuel is characterised by robust growth and is forecast to develop at an average annual rate of 4.9% through to 2030, when it will reach a global consumption figure of approximately 63 million t.3 Biodiesel also offers a number of advantages over conventional fuels. For example, it yields 93% more energy than the energy invested in its production.4 It also tends to release limited volumes of air pollutants per net energy gain. When looking at the entire life cycle

66 ENERGY GLOBAL AUTUMN 2021


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.