Saudi Arabian Refineries Company (SARCO), and Christof Global Impact signed two non-binding memoranda of understanding (MoUs) to develop renewable energy projects.
The first project is to study an investment partnership to build a refinery producing the ‘biodiesel’ biofuel carbon, which is negative fuel derived from algae through “carbon negative algae oil – sustainable fuel platform” with an initial investment of up to SR1 billion for the first phase.
The second project, aims to study the investment in the technology of slop oil to convert waste oil wells, oil from shipping ships, waste of fuel tanks and petroleum materials into low carbon raw materials to reduce carbon emissions with an estimated total cost of SR130 million for the first phase.
Tags: Biodiesel, Chisrtof Global Impact, Refinery, Renewable, SARCO
Recent Posts
EST-Floattech Expands Octopus Series with Lithium Iron Phosphate Battery Modules
PowerCell’s Marine System 225 receives Type Approval from Lloyd’s Register
Echandia Secures SEK 325 Million in Funding to Advance Maritime Electrification
Scotland’s Largest Maritime Decarbonisation Project Launches at Port of Aberdeen
Fortescue, GH2, and Trovio Complete First Digital Fuel Certificate Pilot for Ammonia Bunkering in Rotterdam
Fortescue Recognised as Global Leader in ‘Real Zero’ Climate Action
Bureau Veritas Urges Rethink of Maritime Finance and Operations in New Book on Sustainable Blue Economy
APM Terminals Pier 400 Deploys Largest Electric Terminal Tractor Fleet at Port of Los Angeles