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UPM invests in bio-fuels

UPM is gearing up to invest in second-generation bio-diesel, as it prepares to position itself as a significant producer of bio-fuels. The company is in the process of developing a business concept and technical solutions, however, it has already confirmed plans to invest in the first commercial scale production plant, within the next few years.

“Investments in development of concepts and plants will be significant,” said Jussi Pesonen, president and CEO. “The production of bio-fuel is a good fit for UPM since its core business is to add value to the wood raw material. Our aim is to maximize the gain from the biomass-based raw material. The importance of renewable fuels is increasing and we consider this an opportunity to further utilize our existing value chain and be part of the future development.”