July 23,2018 [Nasdaq] - UK-based fuels supplier Greenergy said on Thursday it has reached an agreement with Oiltanking to acquire an idle biodiesel plant in Amsterdam which it plans to convert to make the renewable fuel from waste oils.
Greenergy already owns two biodiesel plants in the east of England which make biodiesel from waste products such as used cooking oil.
The Amsterdam plant, which was never commissioned, was built in 2010 to process vegetable oils.
There are incentives to using biodiesel made from waste oils rather than virgin vegetable oils in the European Union which have contributed to rising demand for the waste-derived fuels.
Greenergy sources waste oils globally including from China, Australia and the Middle East.
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