BP buys into UK’s largest provider of diesel alternative vegetable oil fuels

The energy heavyweight has acquired a 30 per cent stake in Green Biofuels, which was founded in 2013 and has delivered more than 55 million litres of hydrogenated vegetable oil (HVO) products to the UK market over the past two years.

BP said its investment would support the firm’s growth as it works with businesses looking to transition away from using traditional diesel fuel in the likes of lorries, temporary generators and construction machinery.

Sven Boss-Walker of BP said: “We are delighted to be working with Green Biofuels, who are at the forefront of HVO supply in the UK market. We look forward to supporting their continuing growth and working together on these immediately available alternatives.

BP acquired a 30 per cent stake in Green Biofuels, which was founded in 2013 and has delivered more than 55 million litres of hydrogenated vegetable oil (HVO) products to the UK market over the past two years.

“This investment further expands our biofuels portfolio, as we transition to become an integrated energy company.”

William Tebbit, chief executive of Green Biofuels, said: “Our mission is to support the net zero energy transition by providing an immediate solution that makes a difference to carbon and air pollution emissions today.

“Our fuels provide businesses the time to transition to new technologies when they are proven both economically and operationally. We are proud to be partnering with a company like BP, which recognises the urgency of making positive changes now.”

BP, like most traditional oil firms, is in a period of transition. Last March, the group announced that it was ramping up its ultra-fast vehicle charging network across the UK with plans for thousands more charge points.

A message from the Editor:

Thank you for reading this article. We’re more reliant on your support than ever as the shift in consumer habits brought about by coronavirus impacts our advertisers. If you haven’t already, please consider supporting our trusted, fact-checked journalism by taking out a digital subscription: www.scotsman.com/subscriptions