EU Report Estimates $8.86B Investment Needed for Advanced Biofuels by 2040
A report from Belgium estimates that the EU will require an investment of $8.86 billion in advanced biofuels by 2040 to meet transport emission reduction targets. It emphasizes the potential for sustainable domestic production and highlights the need for EU-coordinated financial support to develop industrial capacity and mobilize feedstock. To achieve the goals for 2030-2040, a diverse mix of technologies and significant annual funding of €3.8 billion to €7.5 billion for production facilities will be necessary.
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A report in Belgium highlights the role of advanced biofuels in achieving EU transport emission reduction targets as part of the decarbonization policy. It concludes that advanced biofuels can be sustainably produced domestically without reliance on external technologies or feedstocks.
EU-coordinated financial support is necessary for developing industrial capacity and mobilizing feedstock from farmers. To meet the 2030-2040 targets, a diverse mix of technologies is needed to utilize a full range of feedstocks for fuel production.
The report estimates that annual financial support for biofuel production facilities will need to be between €3.8 billion and €7.5 billion by 2030, with an additional €700 million to €1.25 billion for farmers and aggregators. Higher support levels will be required by 2040. Existing EU funding mechanisms can facilitate industrial capacity development and feedstock supply.
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