STOCK TITAN

UGI International Forms Exclusive, Strategic Partnership with bioLPG Producer Ekobenz to Drive bioLPG Availability in Europe

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership

UGI International (“the Company”), European subsidiary of UGI Corporation (NYSE:UGI), one of the world’s largest LPG distributors, today announced a new supply and development partnership with Ekobenz, a Polish technology specialist in catalytic conversion of bioethanol to bio-gasoline and bioLPG. Per the terms of the agreement, UGI International has secured the exclusive rights to Ekobenz’ supply of bioLPG, a renewable form of propane-butane produced from advanced bioethanol. The primary raw material to produce bioLPG is the conversion of organic material derived from industrial waste, unsuitable for use in human and animal food chain. The product can be used by all of UGI International’s existing LPG entities operating across Europe, and significantly boosts the company’s portfolio of sustainable fuels.

Ekobenz’ state of the art research facility in Bogumiłów, Poland (Photo: Business Wire)

Ekobenz’ state of the art research facility in Bogumiłów, Poland (Photo: Business Wire)

As well as providing a platform for the growth and wider uptake of bioLPG through UGI International’s strong market presence in Europe, the company is also committed to playing a crucial role in enabling its customers to decarbonise their operations to support the goals of the Paris agreement to achieve net zero carbon emissions by 2050. The move also signifies UGI International’s leadership in supporting emerging technologies that have the potential to transform and decarbonise a sector that has been traditionally heavily reliant on fossil fuels. The unique properties of bioLPG mean that it can be easily combined with traditional conventional LPG and used across the same applications, diluting the carbon footprint per litre and offering a greener alternative that can be used in exactly the same way by customers.

Ekobenz is the first and currently only company in Europe that has succeeded in commercialising bioLPG production based on advanced bioethanol produced from waste. The first shipment of bioLPG from Ekobenz’ state of the art research facility in Bogumiłów, Poland, is expected to arrive in Sweden in the spring of this year.

The partnership with Ekobenz is one of several initiatives which support UGI International´s ambition of aligning and, where possible, surpassing those sustainable targets as set in the EU’s Renewable Energy Directive II (RED II) guidance protocol.

What is bioLPG?

Liquifie

UGI Corporation

NYSE:UGI

UGI Rankings

UGI Latest News

UGI Stock Data

5.17B
208.26M
0.43%
84.76%
2.32%
Natural Gas Distribution
Utilities
Link
United States of America
KING OF PRUSSIA

About UGI

ugi corporation (the “company”) is a holding company that, through subsidiaries, distributes, stores, transports and markets energy products and related services. we are a domestic and international retail distributor of propane and butane (which are liquefied petroleum gases (“lpg”)); a provider of natural gas and electric service through regulated local distribution utilities; a generator of electricity; a regional marketer of energy commodities; an owner and manager of midstream assets; and a regional provider of heating, ventilation, air conditioning, refrigeration and electrical contracting services. our subsidiaries and affiliates operate principally in the following six business segments: • amerigas propane • international propane - antargaz • international propane - flaga & other • energy services • electric generation • gas utility ugi corporation (nyse:ugi) is a fortune 500 company that provides investors with a balanced growth and income vehicle. ugi has paid common dividend