Create the first biofuels production facility in the Sultanate of Oman
21 July, 2021 – Dubai – Neutral Fuels Holdings Ltd, based in Dubai’s International Financial Centre (DIFC), has today announced the signing of a Strategic Partnership Agreement with the Erigo Group in which they will cooperate in multiple locations to combine their expertise at creating biofuel from waste cooking oil.
Both companies received the endorsement of the Oman Environmental Services Holding Company (known as be’ah) which is responsible for all waste management in the Sultanate. The initial stage of this agreement will create the first waste cooking oil to biofuel production facility in the Sultanate of Oman.
Neutral Fuels, which is funded by London-based Neutral Capital Finance PLC through the region’s first certified Green Bond (ISIN: GB00BMF1KF67), built the first licensed biofuels production facility in the GCC in 2011, and has become the largest biofuels producer in the region with operations in Abu Dhabi, Bahrain, Dubai, and Delhi. Neutral Fuels only uses locally sourced certified waste cooking oil to produce biofuel for the road and marine sectors. Its biofuel has an 83.6% lower carbon footprint than mineral diesel. Source : Etacarinae S.r.l., Milan, Italy 2019, 2020
Karl W Feilder, CEO of Neutral Fuels, said the partnership with Erigo was not just a significant step in the companies’ growth strategies, but an important stabilizing initiative in an environmentally unstable world. “This is exactly the sort of business synergy the world needs now to reduce carbon footprint and take dangerous waste out of the food chain. Combining our technical expertise across multiple locations will bring benefits to every country in which we each operate.”
Erigo, which runs waste cooking oil and biofuel operations in Qatar, Malaysia, Tunisia, the Philippines, and India, is certified to the ISCC Certified Sustainability GHG Savings standard, and has relationships with thousands of restaurants across the region.
Haksar CH, CEO of Erigo, said, “This agreement is a game-changer in the region. It provides vertical supply chain integration across one of the most challenging markets in the world, and will produce major local environmental benefits in each of those locations.”