OMV is an Austria-based energy company that has taken bold steps to strengthen its presence in the biofuel industry. This happened with the opening of a new factory dedicated to this sector. This factory was established at its refinery located in Schwechat.
Michael Spitzbart, senior vice president of OMV's refining business, shared at the Asia-Pacific Petroleum Conference in Singapore, September 4-6, details about a biofuel facility. Likewise, this facility is modern and has a notable production capacity. It is estimated to produce around 160,000 tons per year.
Therefore, OMV demonstrates a clear commitment to sustainable development, as it invests in the biofuels sector, thus contributing to the reduction of carbon emissions.
OMV: Diversification beyond biofuel towards a sustainable future
However, OMV is not just betting on biofuels. Spitzbart shared the company's strategic vision to further diversify its operations by exploring other sustainable markets. Among its ambitious plans, OMV intends to enter the sustainable aviation fuel (SAF), renewable energy, hydrogen and electrolysis markets. Regarding SAF, the company already serves notable customers such as Lufthansa and Austrian Airlines, in addition to having signed a Memorandum of Understanding (MoU) with Ryanair and other potential customers.
To expand its reach, OMV is looking beyond Austria's borders, as it has refineries not only in Austria, but also in southern Germany and Romania. Furthermore, the company is embarking on innovative projects, such as bio-oil production with a capacity of 16,000 tons per year, scheduled to come into operation in the last quarter of this year, using “ReOil” technology. This revolutionary technology converts plastics into synthetic raw materials for the production of petrochemicals, contributing to the circular economy.
OMV was also planning to launch another 200,000 tonnes/year plastics conversion project in 2027 at its Schwechat refinery, Spitzbart added.
The company has set a goal of becoming carbon neutral by 2050.
Source: Oils & Fats International
