HD Hyundai Oilbank secures biobased material supply network
In South Korea, The Korea Herald reported that local company HD Hyundai Oilbank has signed contracts with Indonesia’s Korindo Group and Korea’s LX International for the purchase of 80,000 tons of palm fatty acid distillate (PFAD) for the former’s new biodiesel plant.
PFAD is a byproduct produced during the palm oil production process and is used as a raw material primarily in a select few biodiesel plants worldwide.
In addition to the biobased material supply agreement with Korindo Group, HD Hyundai Oilbank plans to collaborate on carbon reduction efforts through the utilization of biomass, according to the report.
HD Hyundai Oilbank is gearing up for the commercial operation of a biodiesel plant with a capacity of 130,000 tons per year, scheduled for the next month. This contract secures a stable supply network for bio-based raw materials, the report added.
Beyond PFAD, HD Hyundai Oilbank also aims to reuse and recycle used cooking oil as a raw material for its biodiesel facility.
Category: Fuels
