BillerudKorsnäs receives €31.4M EU grant for project to extract green oil from forestry residues; company eyes producing a new type of commercial fuel at a full-scale facility at Skärblacka Mill in Sweden

STOCKHOLM , December 18, 2012 (press release) – EU awards BillerudKorsnäs €31.4 million within framework of NER300 Programme.

The Commission has decided to finance commercially-viable and innovative production facilities to expand the use of renewable energy sources and reduce CO2 emissions. BillerudKorsnäs’ project on the production of green oil from forestry residues has been allocated funds within the scope of this initiative.

The aim of the project is to extract green oil from forestry residues such as branches, tops and stumps. The project is based on the idea of producing a new type of commercial fuel at a full-scale facility at Skärblacka Mill.

“We are delighted at the EU’s affirmative response to this forward-looking venture. On the basis of this positive decision, we will now continue with our project planning and I anticipate news on the way ahead in 2013”, says Per Lindberg, President and CEO, BillerudKorsnäs.

BillerudKorsnäs is engaged in discussion with joint venture partners who are interested in a future supply of green oil from forest raw materials

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