A newly established company, Danish Biofuel Holding, will on Friday 7 September announce plans to construct Denmark's first bioethanol plant in Grenaa, Jutland. The participants in the project will be disclosed at the press meeting, and Svend Brandstrup, managing director of Danish Biofuel Holding, confirms to financial daily newspaper Børsen that investors in the bioethanol plant will be present at the meeting.
"There is already solid capital behind the new company," Brandstrup says, and adds "I neither can nor will lift the veil on anything in advance. Only that they are Danish investors, and that we also have feelers out among investors abroad." Danish Biofuel Holding is expected to enter an agreement on Tuesday with Grenaa Municipality regarding the land lot where the new bioethanol facility will be located.
The plant will produce first generation bioethanol from grain. An analysis for the project, published in autumn 2006, operates with two investment scenarios, both of which involve production of 150,000 cubic metres bioethanol annually from 400,000 tons of grain. Danish Biofuel Holding will now assess which scenario is favoured.
"If everything goes according to plan, the facility can be ready for production in 12 to 18 months. It requires approval from the authorities, and we also need a dispensation to list the company on the stock exchange, since we cannot demonstrate historic figures or production," says Brandstrup.
The news was reported by financial daily newspaper Børsen.