In 2024, Fortum has announced the establishment of a new biorefinery facility in Assam, India, that would become operational. The biorefinery involves collaboration between Fortum, India-based oil refinery company Num Aligarh Refinery Limited (NRL), and Chempolis, an innovator of green biorefining solutions. The plan aims to establish sustainable biofuels and other bio-derived chemicals to satisfy the growing demand in India for alternative renewable energy resources. The biorefinery will employ novel technology to process non-food biomass into high-value products, assisting the government in achieving its energy transition and carbon reduction goals. The partnership shows Fortum's commitment to providing sustainable energy solutions while driving economic growth in India. The project highlights the importance of partnership in speeding up the uptake of renewable energy technologies in emerging economies.
In May 2021, Kilombero Sugar Company, where Illovo Sugar Africa holds a 75% stake, commissioned a major expansion programto raise sugar output. The expansion will increase the company's annual capacity for sugar production from 127,000 tons to 271,000 tons. This investment is expected to enhance Kilombero Sugar's role as a key player in Tanzania's sugar industry, and also boost economic growth and food security in the region. The project forms part of the total plan by Illovo Sugar Africa to enhance production capacity and meet increasing demand for sugar in local and global markets. The project is also projected to create jobs and ensure sustainable agriculture in the area.
In May 2019, Pennakem, LLC received approval to apply its renewable solvent, Viridisol M, as a raw material for manufacturing natural detergents and organic detergents. This accreditation was an important milestone for the company as it proved the higher demand for eco-friendly cleaning solutions. Viridisol M, which is produced from renewable sources, is an eco-friendly solution to traditional petrochemical solvents, an indication of the rising customer desire for environmentally friendly products. The certification allows Pennakem to expand its product range, helping to build cleaner and more natural cleaning solutions as well as assist the overall transition of the chemical industry towards sustainability.
In May 2017, Lenzing Group received its "biobased" certification by the United States Department of Agriculture for its acetic acid and furfural products. This certification confirmed that Lenzing was on the path to sustainability as well as utilizing renewable resources for its manufacturing processes. Lenzing illustrated its dedication to reducing its environmental impact and accelerating the world's shift toward greener chemical manufacturing by obtaining biobased certification. The certification highlighted the firm's dedication to creating environmentally friendly products and solutions using renewable biomass. This achievement not only enhanced Lenzing's reputation in the marketplace, but it also aligned with increasing consumer and regulatory pressures for green chemical industry practices.
The furfural market is expected to witness significant growth, its value rising from about US$13.17 billion in 2025 to US$22.14 billion by 2032 with a compound annual growth rate (CAGR) of 7.7% over this period.
Furfural derivatives are petroleum-based compound long-term substitutes. Their use is increasing across industries due to the worldwide trend of using renewable materials and green products. Furfural derivatives increasingly play significant roles in medicine and agrochemical industries. The compounds find their applications as intermediates and solvents for preparing active medicinal ingredients and agrochemical formulations.
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