Climate Change – Mitigation and Adaption
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356 MW
total installed capacity in operating PV and wind parks -
Supply of SAF
(Sustainable Aviation Fuel) up to 4% in volume content in JET A1 aviation fuel for AEGEAN flights departing from the airport of Thessaloniki -
> € 60 mil.
investment in Renewable Energy Sources projects and environmental footprint reduction projects -
> 750,000 tons
total cumulative avoidance of CO₂ emissions due to investments in RES over the last decade
Mitigation and Adaption
HELLENiQ ENERGY has set a goal to significantly reduce its carbon footprint. By promoting its energy transformation, the company aims to become carbon-neutral by 2050, thus contributing to addressing and mitigating the impacts of climate change. The Group continues to invest in the development of new business activities, with a focus on Renewable Energy Sources (RES), energy storage, electromobility and sustainable and alternative fuels, with a key objective to develop a portfolio of RES with installed capacity of more than 1 GW by 2025 and more than 2 GW by 2030.
The Group’s Approach
Climate change is now recognised as one of the greatest challenges facing humanity, with its consequences often referred to as climate crisis as well. Actions to adapt and mitigate the impacts of climate change have already been legislated and are a priority at global, European, and national level.
The key means of HELLENiQ ENERGY’s contribution to addressing the climate change have been and remains the enhancement of energy efficiency and energy saving. Although fuels of high environmental standards (e.g. zero sulphur), which have been in high demand over the last decade, are making a significant contribution to improving air quality, energy consumption in production plants is increasing significantly nonetheless. It is becoming clear that energy consumption accounts for a significant operational cost of the Group’s activities and is also the main source of carbon dioxide emissions.
HELENiQ ENERGY’s long-term strategic objective is to emphatically reduce the carbon footprint in all activities and achieve the vision of climate neutrality, in order to lead the energy transition in the Eastern Mediterranean, maximising returns from its core activities and developing a diversified portfolio of energy products towards an integrated Group of companies that produces and markets all current forms of energy while developing new business activities. Regarding the RES sector, the development strategy combines the maturity of a diversified portfolio of projects (photovoltaic, wind and electrical energy storage system) and targeted acquisitions of mature or operating projects.
Potential risks and opportunities and associated financial impacts are thoroughly analysed for the short- and long-term planning of the strategy, both in terms of climate change mitigation and adaptation to its impacts (e.g. in the case of physical changes, which are estimated to be particularly significant for facilities located close to the coastal front of Greece). These elements are examined and analysed through different pillars, such as existing and forthcoming legislation, new technologies, but also the respective markets where the Group operates, while at the same time the international forecasts for the energy market and climate change are analysed to draw up the Group’s long-term strategy. At the same time, synergies are created and developed through joint actions and training sessions with employees and all stakeholders, across the wide range of the Group’s activities.
The financial implications and risks arising are assessed and taken into account in the context of the entire Group’s sustainable development strategy. The relevant key topics are:
a) increased fuel and raw material costs,
b) lower demand for energy-intensive products such as fossil fuels, and
c) the tightening regulatory framework for controlling and limiting greenhouse gas (GHG) emissions.
Indicatively, as per (c) point, the following are worth mentioning: the European Emissions Trading Scheme (EU ETS) and the Carbon Border Adjustment Mechanism (CBAM) which contribute to further increase of the carbon cost.
For 2023, the obvious financial implications for HELLENiQ ENERGY were directly linked to the risk of increasing the cost of covering the emission allowance deficit, as all three of the Group’s refineries in Greece participate in the EU ETS. In the period 2021-2025 (first sub-period of the 4th trading phase) and under the new free allocation rules, compliance costs have increased significantly due to the significant increase in the price of allowances (approximately €80/tn at the end of 2023), as well as due to the decreasing amount of emissions-free allowances under the current free allocation rules.
A further increase in compliance costs and an increased risk of carbon leakage is expected, taking into account the planned changes in the ETS in the context of the implementation of the European Green Deal and the European reduction targets of the “Fit for 55″ package, (note that the refining sector is included among those facing carbon leakage risk, i.e., a significant deterioration in its competitiveness compared to similar facilities outside Europe). Due to its geographical location (EU borders), the group faces an even greater competitive risk compared to other European countries, from neighbouring countries that are not part of the ETS and produce the same products but do not include in their operating costs the carbon costs that the group incurs as a result of its participation in the emissions trading scheme (EU ETS).
HELLENiQ ENERGY’s Management continuously analyses and evaluates, during each financial year, all the above risks (increased CO2 costs, transition to a carbon neutral economy, changes in consumer demand and preferences, increase in crude oil prices), while also identifying investment opportunities such as the development of RES, increasing energy efficiency, development of low emission products, and ultimately shaping the Group’s strategy. Its faithful implementation has already contributed to reducing the carbon deficit and operating costs through increased energy efficiency, while lower carbon footprint fuels already represent an increasing share of the Group’s turnover.
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The key means of HELLENiQ ENERGY’s contribution to addressing the climate change phenomenon have been and remains the enhancement of energy efficiency and energy saving.
Furthermore, the potential physical risks arising from climate change (e.g. changes in weather patterns) are being assessed as they may negatively impact equipment functionality, possibly resulting in a reduction in revenues as well as an increase in insurance costs.
HELLENiQ ENERGY has also recognized an opportunity in the new low-carbon technologies that have been developed to address climate change, such as blue and green hydrogen generation technologies, CO2 capture and storage technologies and other technologies to replace fossil fuels with lower carbon footprint fuels. In implementing the strategy, most new technologies are being directly assessed for their potential applications and effectiveness to reduce potential risks and maximise benefits.
Finally, the evaluation of possible opportunities for further penetration of natural gas, as a fuel for the transition to a lower-emission economy, as well as for sustainable and alternative fuels, through the implementation of various Research and Development programs, continues.
As mentioned above, the range of interventions/projects for the adaptation of facilities and critical energy infrastructure to climate change is under continuous monitoring and is being thoroughly studied.
Climate change, assessed as a material impact on the environment, both positive or negative, across the value chain of the Group’s activities. More specifically, it constitutes an impact (current and potential, in the future) from upstream activities, mainly due to carbon dioxide (CO2) emissions from the transportation of raw materials, as well as CO2 emissions from downstream activities, which involve the usage of fuels by final consumers. In addition, it is an actual and potential impact linked to the Group’s core activities, such as CO2 emissions from the production processes of industrial facilities and the intergroup transportation of products and raw materials.
Therefore, HELLENiQ ENERGY invests in improving energy management and use and in low-carbon fuels (e.g. blue and green hydrogen, biofuel production, and CO2 capture technologies), in energy saving in production activities, as well as in the further development of Renewable Energy Sources (RES).
For HELLENiQ ENERGY, the European legislative framework and goals for energy and climate change, such as the European Green Deal and the European Climate Law, which aim to accelerate its progress towards climate neutrality, represent significant challenges but also opportunities for further development of new carbon footprint reduction technologies and a leading presence in the sector of sustainable and alternative fuels, as well as RES.
HELLENiQ ENERGY implements its environmental policy regarding energy and climate change, by setting targets and performance indicators, as well as developing and certifying its Environmental and Energy Management Systems based on international standards (ISO 14001 and ISO 50001, respectively). It is noted that all environmental parameters are monitored through common indicators at European level and benchmarked against industry performance in Europe.
The above actions and initiatives contribute to reinforcing the Group’s positive actual impact on climate change mitigation, particularly in its downstream activities through the increasing usage of more environmentally friendly energy products by end consumers. In line with the Group’s strategy regarding climate change mitigation, the potential positive impact on its own and downstream activities is expected to increase in the coming years, with the increased production and use of low carbon fuels.
Low carbon footprint products and services are key growth areas of strategic importance for the Group, as they contribute to value creation and risk management. In particular, RES deliver competitive financial returns, diversify the energy mix, support short- and long-term risk hedging, reduce CO2 emission costs by substituting fossil fuels. Additionally, Renewable Energy Sources enhance synergies between the Group’s business activities and contribute to the mitigation of climate change.
In the Natural Gas sector, the Group focuses on commercial activities, such as investments in CNG (compressed natural gas) stations in cooperation with DEPA, as well as the supply and retail of natural gas through Elpedison (a joint venture with Edison), which aims to further consolidate its position in this sector.
HELLENiQ ENERGY, aiming to contribute substantially to addressing the causes and impacts of climate change, has set a goal to significantly reduce its carbon footprint, transform its energy footprint, and become a carbon-neutral company by 2050. More specifically, by 2030 it has set the following goals:
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Reducing
Scope 1 and 2 emissions by more than 30% through energy use optimisation and the application of innovative GHG emission reduction technologies in refining activities.
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Further developing
and implementing RES investments (over 2 GW, including the intermediate goal of 1 GW by 2025) to contribute to an additional avoidance of >20% of CO2 emissions.
To achieve the above objectives, the Group has defined an investment plan to reduce its carbon footprint and produce alternative and sustainable fuels. Major investments include the production of blue hydrogen through carbon capture and storage (CCS), as well as the development of a production plant of green hydrogen through electrolysis, to be carried out at the Elefsina refinery.
Regarding biofuels, the Group aims to set up a biodiesel production unit through the reuse of cooking oil (UCO) at the Thessaloniki refinery and conduct feasibility studies for evaluating new biofuel production technologies (HVO, SAF).
Finally, the possibility of producing pyrolysis oil from recycling plastics in the production of propylene is under review.
This approach and the results achieved so far are positively evaluated, taking into account both the significant progress in the implementation of the Group’s transformation plan and the achievement of quantitative targets, as well as the external evaluation by international organisations specialising in environmental and climate change issues, such as the international organisation Carbon Disclosure Project (CDP).
Thus, the Group is planning and implementing its energy transformation for a climate-neutral economy, responding to the continuing growth in energy demand and security of supply, contributing to the achievement of the United Nations Sustainable Development Goals 7 and 13.
*Comparable (adjusted) emission levels under the current mode of operation
and the latest EU ETS monitoring rules.
It is also worth noting that HELLENiQ ENERGY actively monitors energy and climate change policies at national and European level, such as the EU ETS, the Energy Efficiency Directive, and international initiatives such as “eFuel Alliance” for the promotion and development of synthetic fuels, as part of the industry’s energy transition and its future vision.
Reduction of Energy Consumption and
Greenhouse Gas Emissions
Energy Consumption
In 2023, the Group’s subsidiaries EKO S.A. and KALYPSO KEA S.A., along with the Group’s refineries, were successfully recertified according to ISO 50001:2018, aiming at continuous progress and achieving even higher energy savings and efficiency performance. The energy management system implemented requires not only the systemic specifications (documentation control, employee training, monitoring of corrective and preventive actions, inspection and review) but also the identification of energy needs, the recognition of energy improvement opportunities, and the establishment of specific goals and objectives related to the efficient energy use, the implementation of which is completed through the adoption of energy-saving programs or other relevant actions.
Total Group energy consumption 2016-2023
As shown in the chart below, in 2023, self-generated electricity accounted for 34% of total electricity consumed.
Total electricity consumption by production mode
Regarding the monitoring and reporting of CO2 emissions, the Group systematically monitors not only direct emissions (Scope 1), but also indirect emissions (Scope 2 and 3) in the majority of its activities, in accordance with the GHG Protocol methodology, while for activities within Greece from 2020 onwards, additional certification according to the international standard ISO 14064 has been obtained. Specifically, for the 2023 quantitative data, the verified direct emissions (Scope 1) for the three refineries participating in the EU ETS amount to 3.825 million tons of CO2e, while the Group’s indirect emissions (Scope 2) from electricity consumption reach 336 thousand tons of CO2e (including subsidiaries), taking into account that part of the consumed energy is derived from renewable energy sources and/or covered by guarantees of origin, resulting to the respective reduction of the indirect emissions.
It is important to mention that the Group’s refineries have been participating in the European Greenhouse Gas Emissions Trading System (ETS) since their establishment, and follow all procedures for the monitoring, calculation, and verification of emissions in accordance with the Phase 4 Regulations for 2021-2030, which impose stricter accuracy requirements in monitoring.
The cost of compliance for ETS Phase 4 has increased significantly due to the increasing emission reduction targets at the European level, the reduced percentage of free allowances allocated to all refineries in Europe, but also the significant increase (10-fold) in the price of allowances in recent years (from €8/tn at the beginning of 2018 to approximately €80/tn at the end of 2023).
The chart below shows the final verified CO2 emissions of the Group’s three refineries for the years 2022 and 2023 and the corresponding free allowances.
Verified emissions and free CO₂ allowances at the Group’s three refineries
The Group, in the process of implementing the energy transformation towards a climate-neutral economy, invests in Renewable Energy Sources. By doing so, it contributes to the avoidance of a significant percentage of CO2 emissions (chart below) that would have been emitted if the quantity of electricity had come from a conventional provider in the domestic power generation network.
CO2 emissions avoided due to Renewable Energy Sources (RES)
HELLENiQ ENERGY also tracks other indirect emissions (Scope 3) from its activities. The main sources of these emissions are the usage of its products as well as the sourcing and transportation of raw materials, additives, equipment and products by ship (imports, intermediate transport, and exports). To better monitor and reduce its carbon footprint, the Group has undertaken a detailed inventory of its indirect emissions from the entire value chain, covering a wide range of sources mentioned above, but also from other supporting activities, such as office activities, e.g. air travel, private and other employee commuting activities and waste management.
Energy Production and Storage from
Renewable Sources
HELLENiQ ENERGY, through its subsidiary HELLENiQ RENEWABLES, owns projects with a total capacity exceeding 4.2 GW in various stages of development, primarily involving photovoltaic parks and wind farms, as well as energy storage stations. The total installed capacity of HELLENiQ RENEWABLES amounts to almost 356 MW of RES projects, of which 241 MW are PV parks and 99 MW are wind farms in Greece, while 15 MW are PV parks in Cyprus.
One of the main PV projects in operation in Greece is the 204 MW photovoltaic park in Kozani, which was inaugurated in 2022 and is estimated to produce 350 GWh of energy per year. This park is capable of providing clean, zero-emission energy for 75,000 households, with an annual benefit in terms of carbon dioxide emissions of over 90,000 tons. In the wind farm sector, HELLENiQ RENEWABLES’ main projects are located in the South Evia region, with a capacity of 37 MW and in the Mani region with a capacity of 55 MW.
Furthermore, the portfolio of HELLENiQ RENEWABLES’ Battery Energy Storage Stations (BESS) currently lists 25 projects with a total capacity of 1,093 MW. Of these projects, 18 are stand-alone BESSs, while 7 are RES plants with behind-the-meter storage as per par. 11A of article 10 of Law 4685/2020. The RES of this portfolio are in various stages of development, from the stage of issuing the Storage License by the Regulator (RAAEY) to the stage of applications for the granting of the Final Connection Offer. In the first Competitive Bidding Process for the granting of investment and operational support for RES, in accordance with the provisions of article 143F of Law 4001/2011 (A’ 179), three RES of HELLENiQ RENEWABLES were selected, with a total capacity of 100 MW (25, 25 and 50 MW) and a guaranteed capacity of 200 MWh. In addition, HELLENiQ RENEWABLES intends to participate with its licensed projects also in the third Competitive Bidding Process for investment and operational support for RES, when it is launched.
During 2023, the acquisition of a 180 MW photovoltaic cluster in the Kozani area and a 211 MW photovoltaic cluster in Romania was announced. These projects are expected to be put into commercial operation gradually by 2025. In addition, HELLENiQ RENEWABLES signed a binding agreement to acquire a portfolio of photovoltaic projects in Cyprus with a total capacity of 26 MW. Finally, HELLENiQ RENEWABLES continues to consider acquisitions in Greece and abroad. The targets will be achieved both through organic growth of the projects in the company’s development portfolio and through acquisitions.
As a result of the rapid implementation of the strategic decision to invest in RES, the total cumulative avoidance of CO2 emissions from RES has exceeded 750,000 tons of CO2 since 2013 (about 350,000 tons for 2023 production alone), while in 2023 over €48 million was invested in RES projects.
HELLENiQ RENEWABLES follows the Group’s policy and procedures on Health and Safety and Environmental issues during the licensing, construction, operation, and maintenance of all RES projects, with the aim of avoiding risks and accidents. For each new project, a responsible engineer is appointed to monitor relevant issues, supervise the work and the licensing stage, ensure the validity of relevant permits, and handle their review.
A detailed assessment of occupational risks and environmental obligations is carried out before projects start, specialist safety and environmental partners are appointed, and exclusively trained personnel are employed to ensure continuous monitoring of compliance with safety and environmental procedures and indicators, including specific biodiversity requirements. In special cases of projects executed within or near the Group’s petroleum products facilities, then, in addition to the above, the Group’s specific procedures are followed in cooperation with the relevant Health, Safety and Environment Divisions.
All HELLENiQ RENEWABLES projects in operation have a Health and Safety File (HFS), in accordance with the relevant legislation, while partners have approved safety manuals and maintenance procedures, and specific environmental indicators are monitored by specialized partners in cooperation with HELLENiQ RENEWABLES engineers also pursuant to the environmental terms. It is worth noting that the Group has started the process of developing a Health, Safety, and Environment manual specifically tailored to the needs of Renewable Energy Sources projects, which is expected to be completed by the end of 2024.
“Net Zero” initiative on self-operated fuel stations
Aiming to reduce the environmental footprint of its self-operated fuel stations (EKO and bp), the Group is actively implementing the “Net Zero” initiative, which includes the establishment of an Energy Management System certified to the international standard ISO50001:2018, alongside a series of measures aimed at minimizing energy consumption during operations, exclusively using Renewable Energy Sources (RES). To date, the Group has installed 47 photovoltaic plants with a combined capacity of ~1.18 MW across its self-operated fuel stations. Within 2023, 25 of these stations, with a total capacity of 823 kW and an average annual production of 1,100 MWh, were completed and began operation. Aiming to integrate more stations, the program will continue in 2024, with 21 photovoltaic stations already in development. It is also worth noting that in 159 self-operated fuel stations, a series of technical interventions have been completed, such as new interior and exterior lighting of the fuel station with LED, installation of high energy class air conditioning units as well as energy-efficient refrigerators. In 2023, smart meters were installed in 158 fuel stations to enable real-time monitoring of energy consumption, identify opportunities for savings and optimize overall energy efficiency. This ongoing project is slated to continue throughout 2024.
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47 PV stations
in operation with an installed capacity of ~1.18 MW
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21 PV plants
under development
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2,979 MWh
estimated annual energy savings from the replacement of fuel station equipment
Promotion of Sustainable Products
In accordance with the provisions of the RED II Directive on Renewable Energy Sources (Renewable Energy Directive) regarding the integration of RES in the transport sector, both HELLENIC PETROLEUM R.S.S.O.P.P. S.A. and EKO S.A. have implemented certified systems for sustainable biofuels management system in accordance with the 2BSvs standards. These systems have been certified by the Bureau Veritas certification body under the framework of the 2BSvs Verification Scheme.
To comply with the new legislative requirements, the Group has taken proactive steps to upgrade its production facilities and the conversion of the existing methyl ether production plants (MTBE and TAME) at the Aspropyrgos refinery into ethyl ether production plants (ETBE/TAEE). These plants now use bioethanol as a feedstock in the etherification process, and are operational, supplying the required quantities of biofuels.
Biofuels are unique in their ability to directly substitute fossil fuels and are currently available on a large scale for transport fuels, while their use helps to reduce carbon dioxide (CO2) emissions from vehicles and make transport more environmentally friendly, without requiring special modifications to vehicles and distribution networks.
At present, the term biofuel in the Greek market refers mainly to biodiesel, a fuel with similar properties to diesel, which is used as a component (after blending it with conventional diesel) in all diesel vehicles, according to European blend specifications.
Biodiesel received and used in diesel transport during the three-year period 2021-2023
| Year | Biodiesel (lt) | % v/v on diesel fuel |
|---|---|---|
| 2021 | 106,150,000 | 6.80 |
| 2022 | 121,101,000 | 6.93 |
| 2023 | 130,983,000 | 7.07 |
EKO S.A., a subsidiary of the Group, submits verified annual statements to the Ministry of Energy and the Environment detailing the sustainability characteristics of biofuels and the quantities and values of their CO2 emissions placed on the domestic market in blends with fossil fuels.
It is noted that the biofuels used contribute to a greater reduction in CO2 emissions than the minimum thresholds of the RED II Directive (minimum 50% reduction in emissions).
The calculation of annual GHG emission reductions is based on the sustainability characteristics of various biofuel feedstocks used (i.e., based on the emission intensity in grCO2/MJ) compared to the average fossil fuel emission intensity value (94 grCO2/MJ) and refers to the percentage of biofuel blended with the fossil fuel.
Specifically, biodiesel blended in motor diesel achieves a 65% reduction in GHG emissions, while bioethanol blended in UNL95, UNL98, and UNL100 petrol achieves reductions of 63.46%, 62.92%, and 63.48% respectively, compared to the reference fossil fuels (the average CO2 emission reduction rate for the three types of petrol is 63.4%).
It should be noted that emission reductions achieved by biofuels vary depending on the available market feedstocks and the biofuel production route.
In addition to biofuel use in road transport, in 2023, HELLENiQ ENERGY contributed to the reduction of emissions in the aviation sector following the agreement between EKO S.A. and AEGEAN for the promotion of SAF (Sustainable Aviation Fuel) in a volume content of up to 4% in JET A1 aviation fuel for flights departing from Thessaloniki airport. Starting from March 2022, all AEGEAN flights from this airport included 2% SAF content.
The SAF utilized adheres to circular economy principles, produced entirely from sustainable renewable raw materials, such as used cooking oils and animal fats from food industry waste, which are processed with hydrogen (HVO) and turned into a renewable product. The SAF used had an average emission intensity of 11.42 gCO2/MJ, achieving emission savings of 87.18%.
The distribution of biofuels blended with fossil fuels includes a “Proof of Sustainability” certificate, detailing key sustainability criteria, such as feedstock type, quantity, country of origin of feedstock, greenhouse gas emissions, and type of emissions calculation.
Participation in Research Projects
Focusing on the objectives of “Vision 2025”, HELLENiQ ENERGY proves in practice its commitment to reducing its carbon footprint and contributing substantially to the protection of the environment and the energy and climate transition of the Group, the country, and Europe, through designing and implementing innovative and research projects. The Group promotes its sustainable investment strategy in cutting-edge technologies (e.g. CO2 capture and use, production of sustainable aviation fuels, circular economy, hydrogen production, etc.) through the New Technologies and Alternative Energy Sources Division, with the support of European and national funding projects.
During the last four years, HELLENiQ ENERGY has independently undertaken or collaborated together with leading national and European Research Institutes and Universities to prepare, submit, and implement the following research projects. It should be noted that during this same period, there was a 38% increase in the success rate of participation in research projects funded by the European Union.
Current Research Projects in 2023
- COCPIT: It proposes the improvement of the Sustainable Aviation Fuels (SAF) production chain.
- FuelGae: Innovative technology to use microalgae for CO₂ capture and production of advanced biofuels.
- ECOLEFINS: It aims to develop an all-electric process for converting CO2 and H2O into light olefins.
- CEEGS: CO2 storage in geological formations and geothermal energy extraction to create a cost-effective and scalable (from small to large scale) system.
- CIRCforBIO: A circular economy system for the conversion of multi-source biomass into value added products (Life program).
- MIDAS: Growing industrial crops for the European bioeconomy.
- HyCon: It proposes an innovative approach based on hydrothermal treatment (HTL) – conversion of biomass and lignite into liquid fuels such as ethanol and methanol.
- ACTOIL: Valorisation of plastic and rubber waste for the production of alternative liquid fuels and adsorbents with innovative processes in the context of the circular economy model.
- LIPID4FUEL: Advanced alternative fuels for ground and air transport from the utilisation of residual lipids.
Integrated Research Projects in 2023
- ZEOCAD: It proposes the development of new bi-functional structured catalysts.
- BIOFIT: It aims to develop bioenergy production technologies in five different industrial sectors.
- ReCognition: Creation of synergies and innovative technologies in the field of RES to promote energy autonomy in buildings.
- BIOMASS C+: Reduction of climate change impacts through the production and use of biofuels.
- ALGAFUELS: Production of green fuels through catalytic hydrotreatment of microalgae grown in greenhouse drainage water.
- BREW2BIO: Production of highly sustainable liquid biofuels and value-added products from urban solid waste of catering companies.
- PROMETHEUS: Oxygen ion and proton (co-ionic) con-ductivity membrane electrochemical reactors for the simultaneous electrolysis of CO2 and H2O to produce methanol and other chemicals/fuels.
- BEET2BIOREF: Utilisation of agricultural sugar beet crop residues and sugar production process by-products for the production of biogenic and biocomposite biodegradable packaging materials.
- DESULFUR: Advanced nanoporous materials for effective deep desulphurisation of liquid fuels through a process of adsorption under mild conditions.
2023 Key Milestones
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Management of 20 research projects
(national and EU funded) in the fields of biofuels, the circular economy, the SAF, and the carbon capture and storage (CCS).
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Successful completion
of eight (8) nationally funded programs and two (2) EU funded programs.
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Development and expansion
of research fields, in line with the Group’s strategic plan “Vision 2025”.
