Veredium Energy Ventures Inc, an international marketing company in the Philippines, has announced its intent to enter into the emerging biofuel industry of the Philippines. Veredium is more popularly known as the distributor of Agip lubricants. They are planning to accomplish their foray into bioethanol production within the next two years.
Company president and CEO Petteri Makitalo said that they are now holding exploratory talks with a Finnish company that will allow them to develop alternative fuels. They are aiming to convert biowaste into fuel.
Currently they are working on a feasible business plan and are hoping to bring out new technologies on alternative fuels development in the first quarter of next year.
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Category: Bioethanol
