UPM Was About to Invest up to a Billion in a New Biorefinery – Now the Company Says It Is Abandoning the Project

The new refinery would have multiplied UPM's renewable fuel production.

The misery in the biofuel market is not easing quickly, writes journalist Kyösti Jurvelin.

According to UPM, the Rotterdam decision is based on high capital and operating costs combined with a market that demands competitiveness.

The aim is to have tall oil-based biofuels approved for aircraft use.

UPM is abandoning its plans to build a biorefinery in Rotterdam, the Netherlands, and is instead focusing on developing its own technology.

UPM says it is sharpening its growth strategy in biofuels and plans to abandon the Rotterdam biorefinery project.