HD Hyundai Oilbank announced that its newly operational biodiesel facility in Chungnam Province, with an annual production capacity of 130,000 tons, has commenced commercial operations.
Biodiesel, derived from non-petroleum sources like vegetable oils, plays a crucial role in reducing carbon emissions. South Korea is already moving towards commercializing bio-aviation and bio-marine fuels, in line with current regulations mandating a 4 percent mandatory blend of biodiesel with diesel fuel. This blend ratio is expected to increase to 8 percent by 2030.
HD Hyundai Oilbank is pioneering the use of supercritical processing in South Korea through its biodiesel plant. This innovative process allows for the production of biodiesel without catalysts under high temperature and pressure conditions, enabling the use of non-food raw materials with high acidity such as palm fatty acid distillate.
Raw materials for biodiesel, including waste cooking oil, will be sourced in collaboration with Lotte Wellfood. Furthermore, the biodiesel produced by HD Hyundai Oilbank will be supplied to trucks operated by Lotte Group affiliates.
“With the commencement of operations at the plant, we are establishing the groundwork for producing bio-aviation and bio-marine fuels,” stated HD Hyundai Oilbank CEO Chu Young-min.
