Country

USA

Date

08/07/2013

Entity

Bloomberg

Product

Biofuels

Category

Deployment

Summary

Bloomberg reports the lowest investments in biofuels for seven years

According to data compiled by Bloomberg, the global investment in biofuel production droped from its peak 0f $7.6 billion in the last quarter of 2007 to $57 million in the first quarter of 2013, the lowest level since 2006.

Illustrative of this trend, Europe's big companies BP and Shell have stoped funding four separate venture as they don't expect  the technology to produce fuel from woody plants and waste to be economical until 2020. Both BP and Shell had trouble making technology that works in the lab economical at a commercial scale. Companies like Chevron or Exxon are also reducing their ambition.

According to Bloomberg analyst, “Growth opportunities for first-generation biofuels are close to exhausted, while a series of next generation technologies are not quite ready".

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Created at 16/07/2013 3:33 PM by NOVELLI, Philippe
Last modified at 16/07/2013 3:36 PM by NOVELLI, Philippe