SEOUL, Nov. 20 (Korea Bizwire) — POSCO International is deepening its push into the global biofuel market with a sweeping expansion of its palm oil business, announcing a major acquisition in Indonesia alongside the completion of a new refinery jointly built with GS Caltex. The company said on Nov. 20 that it has acquired a controlling [...]
SEOUL, June 29 (Korea Bizwire) — GS Caltex Corp. and Korean Air Co. joined hands to carry out test flights using bio jet fuel, the companies said Thursday, in the latest step in the green energy transition toward a reduced carbon footprint. The two companies signed the memorandum of understanding, under which the oil refiner [...]
SEOUL, May 19 (Korea Bizwire) — A research team from the Korea Institute of Energy Research (KIER) said Thursday they have developed technology capable of converting agricultural waste, such as corn cobs, into levulinic acid. This acid serves as an intermediate material for aviation biofuel production. Levulinic acid is the final oxidized form derived from [...]
SEOUL, July 13 (Korea Bizwire) – South Korean refiner SK Innovation Co. said Wednesday it has invested US$20 million in a U.S. biofuel company, as it accelerates its push for the shift to green energy businesses. The equity investment in Fulcrum BioEnergy Inc., a California-based producer of low-carbon fuels, represents additional backing by SK, South [...]
SEOUL, Dec. 16 (Korea Bizwire) — SK Inc., the holding firm of South Korea’s No. 3 conglomerate SK Group, said Thursday it and a local private equity fund have invested a combined US$50 million in a U.S. biofuel company, as part of efforts to boost its green energy portfolio. The investment in Fulcrum BioEnergy Inc. [...]
ULSAN, South Korea, March 9 (Korea Bizwire) – “Ttong-bonwi-hwapae” literally translates into “poop standard currency.” And the government is investing 10 billion won ($8.65 million) over the next five years to turn this human waste-to-currency idea into reality in South Korean towns and cities. A pilot project was initially spearheaded by the Ulsan National Institute [...]
BUSAN, Nov. 9 (Korea Bizwire) – Pukyong National University announced Wednesday that graduate student Seonwoo In-young (26), recently succeeded in producing bioethanol using dead seaweed that washed ashore after a tropical storm. Seaweed plays an essential role as a food source, habitat, and spawning ground for marine organisms, but only when its alive underwater. Dead [...]