Latest news with #Greenergy
Telegraph
6 days ago
- Business
- Telegraph
British biofuel factory undercut by US rivals faces closure
Adam Traeger, Greenergy's chief executive, said that cost cuts at its biodiesel plant aimed at improving profitability had failed to offset the impact of the US imports, which are heavily subsidised by Washington and no longer subject to an import duty following Brexit. He said a slower ramp-up in the UK's biofuels blending mandates – currently set at 14pc – compared with other European countries was also impacting production and making it impossible to commit to the investment needed to make Immingham competitive. The fuel rules are meant to lessen the emissions of transport by blending propellant with less environmentally damaging substitutes. Mr Traeger said: 'It has been an incredibly difficult decision to enter consultation on the proposed closure of our Immingham site. However, in light of continuing market pressures, we unfortunately do not have enough certainty on the outlook.' It comes after Argent Energy last year announced the closure of its Motherwell biodiesel plant in Scotland, citing the saturation of the market with Chinese imports. Greenergy will seek talks with ministers on increasing the proportion of biofuel used in the petrol and diesel supplied on UK forecourts, something it said could help protect the sector while also reducing carbon emissions from HGVs. At the same time, it said it would begin consultation on the plant's closure with affected employees as soon as possible. The Immingham site began production in 2007 and accounts for more than a quarter of UK biodiesel production, processing waste oils sourced globally to make it ready for blending. Greenergy, which has been part of Singapore-based commodities trading giant Trafigura since August, also operates a biodiesel plant on Teesside, plus a third in the Netherlands. The firm said high energy and chemicals prices combined with a flood of hydro-treated vegetable oils imported from the US had put pressure on margins to an extent that some even turned negative in certain scenarios. While the Trade Remedies Authority has begun an investigation into the situation it may take a further 12 months to reach a decision. UK policy designed to encourage a switch to biofuels has meanwhile fallen behind measures imposed in EU countries such as Germany, the Netherlands and Ireland, where it is estimated that 2030 mandates will be more than double those of the UK.
Time of India
7 days ago
- Business
- Time of India
Greenergy proposes to close Immingham biodiesel plant, 60 jobs at risk
Global commodity trader Trafigura's UK-based biofuel producer and fuel distributor Greenergy will begin a consultation with employees to close its biodiesel plant in Immingham, northeastern England, it said on Thursday. Around 60 jobs will be subject to the consultation process, a spokesperson told Reuters. It would mark the latest blow for Britain's fuel industry, a week after the nearby Lindsey oil refinery's owner Prax announced insolvency, putting 420 jobs at risk. Greenergy shut down the plant and placed it under strategic review at the end of May, citing "unsupportive" market conditions despite "implementing significant cost reduction measures". The company acquired by Trafigura last year, said slower increases in UK biofuels mandates compared to European countries, as well as competition from U.S. exports, had negatively impacted the plant. "In light of continuing market pressures, we unfortunately do not have enough certainty on the outlook for UK biofuels policy to make the substantial investments required to create a competitive operation at Immingham," Greenergy CEO Adam Traeger said. Greenergy's Immingham plant supplies around a quarter of the UK's biodiesel production, and is one of three that the company operates alongside its facilities in Teesside, UK, and Amsterdam, the Netherlands. Biodiesel plants such as Greenergy's at Immingham convert waste oils into biodiesel, which is then blended into the conventional diesel to displace some fossil fuel in the road fuel mix and help curb emissions.
BBC News
7 days ago
- Business
- BBC News
Greenergy Immingham biodiesel plant talks to start on its closure
Talks are due to start on a proposal to permanently close a biodiesel plant in North East Lincolnshire, a fuel supplier has confirmed it will begin a consultation process to cease production at its site in Immingham due to "continuing market pressures".According to Reuters news agency, about 60 jobs are at risk at the plant, which began operating in CEO, Adam Traeger said it had been "an incredibly difficult decision" and it would begin consulting with affected employees "as soon as possible". The announcement comes more than a week after owners of the nearby Lindsey oil refinery announced insolvency, putting 420 jobs at which has been in business for over 30 years and is part of the Trafigura Group, said a strategic review was undertaken into the site's future in Traeger said: ''It has been an incredibly difficult decision to enter consultation on the proposed closure of our Immingham site, and a decision we have not taken lightly. "However, in light of continuing market pressures, we unfortunately do not have enough certainty on the outlook for UK biofuels policy to make the substantial investments required to create a competitive operation at Immingham."Listen to highlights from Lincolnshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
Reuters
7 days ago
- Business
- Reuters
Greenergy proposes to close Immingham biodiesel plant, 60 jobs at risk
LONDON, July 10 (Reuters) - Global commodity trader Trafigura's UK-based biofuel producer and fuel distributor Greenergy will begin a consultation with employees to close its biodiesel plant in Immingham, northeastern England, it said on Thursday. Around 60 jobs will be subject to the consultation process, a spokesperson told Reuters. It would mark the latest blow for Britain's fuel industry, a week after the nearby Lindsey oil refinery's owner Prax announced insolvency, putting 420 jobs at risk. Greenergy shut down the plant and placed it under strategic review at the end of May, citing "unsupportive" market conditions despite "implementing significant cost reduction measures". The company acquired by Trafigura last year, said slower increases in UK biofuels mandates compared to European countries, as well as competition from U.S. exports, had negatively impacted the plant. "In light of continuing market pressures, we unfortunately do not have enough certainty on the outlook for UK biofuels policy to make the substantial investments required to create a competitive operation at Immingham," Greenergy CEO Adam Traeger said. Greenergy's Immingham plant supplies around a quarter of the UK's biodiesel production, and is one of three that the company operates alongside its facilities in Teesside, UK, and Amsterdam, the Netherlands. Biodiesel plants such as Greenergy's at Immingham convert waste oils into biodiesel, which is then blended into the conventional diesel to displace some fossil fuel in the road fuel mix and help curb emissions.
Yahoo
7 days ago
- Business
- Yahoo
Greenergy proposes to close Immingham biodiesel plant, 60 jobs at risk
By Robert Harvey LONDON (Reuters) -Global commodity trader Trafigura's UK-based biofuel producer and fuel distributor Greenergy will begin a consultation with employees to close its biodiesel plant in Immingham, northeastern England, it said on Thursday. Around 60 jobs will be subject to the consultation process, a spokesperson told Reuters. It would mark the latest blow for Britain's fuel industry, a week after the nearby Lindsey oil refinery's owner Prax announced insolvency, putting 420 jobs at risk. Greenergy shut down the plant and placed it under strategic review at the end of May, citing "unsupportive" market conditions despite "implementing significant cost reduction measures". The company acquired by Trafigura last year, said slower increases in UK biofuels mandates compared to European countries, as well as competition from U.S. exports, had negatively impacted the plant. "In light of continuing market pressures, we unfortunately do not have enough certainty on the outlook for UK biofuels policy to make the substantial investments required to create a competitive operation at Immingham," Greenergy CEO Adam Traeger said. Greenergy's Immingham plant supplies around a quarter of the UK's biodiesel production, and is one of three that the company operates alongside its facilities in Teesside, UK, and Amsterdam, the Netherlands. Biodiesel plants such as Greenergy's at Immingham convert waste oils into biodiesel, which is then blended into the conventional diesel to displace some fossil fuel in the road fuel mix and help curb emissions. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
