Biofuel

A report from Bloomberg New Energy Finance shows that China is driving global growth in the clean energy sector in the second quarter of 2012. While the report says that global investment in the sector grew 24 percent, it was China's unprecedented 92 per cent surge over the first quarter 2012 that made figures look so healthy.

Mitsubishi Heavy Industries, Ltd. (MHI) has completed "4UE-X3," a testing facility for full-scale low-speed, 2-stroke marine diesel engines, in the company's Kobe Shipyard and Machinery Works in Kobe, Hyogo Prefecture.

A BP executive has hit out at opponents of biofuels who he said have helped stall investment in the sector by protesting against all production, rather than recognising some fuels can cut carbon emissions and prove environmentally sustainable.

UK-based waste to biofuel specialist, Gazasia is to begin development of a vehicle fuel made from organic waste products from landfill in the Philippines in conjunction with Manila-listed Aboitiz Equity Ventures.

Malaysia is expected to run out of suitable land for new oil palm plantations in the next three to four years, while Indonesia has the potential for another 10 to 12 years of acreage expansion.

Vietnam’s car and motorbike drivers in several big cities must start buying petrol mixed with bio-fuel E5 by the end of next year, under new rules outlined by the Ministry of Industry and Trade (MoIT) this week.

A pair of former investment bankers based in Hong Kong has launched a new business that aims to persuade owners of diesel-powered pleasure boats, of which there are plenty in local waters, to run their craft on waste vegetable oil (WVO). And, like all good sustainable business ventures, this one looks capable of making a healthy profit while also helping the environment. The idea of running a diesel engine on vegetable oil is not new – inventor Rudolf Diesel having demonstrated one of his eponymous motors fueled by peanut oil at the 1900 Paris Exhibition – but neither is it commonplace, especially in Asia. In the intervening century or so the idea has been largely ignored because of the prevalence of low-cost petroleum diesel oil.

WWF is urging investors to do more to promote sustainable palm oil, backed by findings from a new survey released during a high-level meeting of investors and producers in Singapore.

Shanghai-based Hanwha SolarOne has acquired a three-year USD180 million syndicated term loan facility led by The Korea Development Bank, Standard Chartered Bank (Hong Kong), KEB Hong Kong Branch, KDB Asia and KEB Asia Finance. The loans will be denominated in US dollar and will be guaranteed by Hanwha Chemical Corporation.