Shell International Exploration and Production BV has secured the exclusive development and licensing rights to biofuel technology from Edmonton-based SBI BioEnergy Inc. Together the two companies will continue efforts to demonstrate the potential of the technology and, if successful, scale up for commercial application.
SBI BioEnergy has developed a technology that can convert a wide range of waste oils, greases and sustainable vegetable oils into lower carbon drop-ins for diesel, jet fuel and gasoline. The company’s drop-in products do not require blending or any modifications to engines or infrastructure.
"We are confident that Shell is the right industry partner to commercialize our low carbon intensity renewable fuel process," said Inder Singh, founding president and CEO at SBI BioEnergy. "Working with Shell means that we have a partner with proven capabilities to investigate the potential this technology has for global application and that is something that is very exciting for us."
Shell believes biofuels are essential to decarbonize transport fuels because they represent one of the most practical, commercial and cost-efficient solution to reduce CO2 emissions in the transport fuels sector over the next 20 years.
"SBI has a promising new Canadian biofuels technology," said Andrew Murfin, GM of advanced biofuels at Shell. "This is a great opportunity for us to combine Shell's innovation and commercialization capabilities with SBI's technical expertise to investigate the potential this technology has for commercial application."