Press release 12.12.2008
CropEnergies: EU Remains Committed to Biofuels ? Market for Sustainably Produced Bioethanol Is Growing Dynamically
Mannheim, 12 December 2008 ? CropEnergies AG, Mannheim, welcomes the agreement reached between the Council of Ministers and the European Parliament on the Directive for the Promotion of Renewable Energies. The EU heads of state and heads of government confirmed this as an integral part of the EU climate package on 12 December 2008 in Brussels. With this decision the EU has set the framework for the market introduction of biofuels in all 27 member states.
The core of the directive is a mandatory minimum 10% share of renewable energies in the European transport sector. Besides reducing the dependence on fossil fuels and strengthening domestic purchasing power, the Bundesverband der Deutschen Bioethanolwirtschaft e.V., the German Bioethanol Industry Association, estimates that this will reduce the greenhouse gas emissions from petrol by at least 16 million tonnes per year. The introduction of sustainability criteria in the EU also ensures that in future only sustainably produced biofuels are used in the transport sector. Biofuels are required to reduce greenhouse gas emissions by at least 35%, and from 2017 on by as much as 50%, compared to fossil fuels. This directive strengthens the competitive position of European bioethanol manufacturers which use sustainably produced raw materials.
Dr. Lutz Guderjahn, Member of the CropEnergies Executive Board, commented: "The CropEnergies Group is excellently positioned in the European growth market for sustainably produced bioethanol. The new plant in Wanze, Belgium, which will be coming on stream in 2008 already meets the standards the directive stipulates from 2017 on today with a greenhouse gas reduction potential of up to 70%."
It is expected that the EU decisions will have an important influence on the parliamentary consultations in Germany.
About CropEnergies AG
The CropEnergies Group ? a member of the Südzucker Group ? is an established leading European producer of bioethanol for the fuel sector.
?Crop? stands for ?creative regeneration of power?. Energy in the form of bioethanol is produced from renewable resources ? grain and sugar beets. With subsidiaries in Germany, France, and Belgium, CropEnergies has established itself as a bioethanol producer in a growing market in just a few years and it operates today?s largest bioethanol plant in Europe in Zeitz, Saxony-Anhalt, Germany. CropEnergies considers itself a pioneer on the German bioethanol market and expands its market position in Europe. The shares of CropEnergies AG (ISIN DE000A0LAUP1) are listed in the Prime Standard at the Frankfurt Stock Exchange.
Interim Report 1st Half 2008/09
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