Shell Invests in Green Fuel Technology

The Royal Dutch/Shell Group (Shell) announced today that it has purchased an equity stake in Iogen Energy Corporation, a world-leading bioethanol technology company. The US$29 million investment will enable the Canadian based company to develop more rapidly the world’s first commercial-scale biomass to ethanol plant.

OTTAWA, Ontario – May 10, 2002 [] “This is another positive development for Shell. Bio-ethanol, when blended with gasoline, is one of a range of environmentally friendly fuels Shell is exploring as it has the potential to significantly reduce greenhouse gas emissions of vehicles,” said Duncan Macleod, Manager, Portfolio Development, Shell Global Solutions International. “Bioethanol can become commercially viable, and we will be using our skills in fuel production and plant operations with Iogen’s globally recognized technology to reduce the cost of future production.” “At Iogen we believe bioethanol has the opportunity to deliver the most cost-effective and consumer friendly way to reduce greenhouse gas emissions,” said Jeff Passmore, Iogen’s Executive Vice President. Unlike conventional fuel ethanol, a high-octane alcohol produced from the fermentation of sugar derived from the starch in grains such as corn and wheat, bioethanol is made from the fermentation of sugars derived from the plant fiber in renewable feedstocks such as wood and straw. Compared with gasoline, ethanol made from plant fiber releases over 90 percent lower carbon dioxide emissions – a greenhouse gas that contributes to climate change.
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