BP has acquired a 30 per cent stake in Green Biofuels, the UK’s largest provider of hydrogenated vegetable oils (HVO) and a producer of a low emission fuel that can be used as a direct drop-in replacement for diesel.

BP’s investment will support the company’s growth as it works with businesses looking to transition away from using traditional diesel fuel in its assets, such as transport vehicles, temporary generators and construction machinery.

The investment will expand BP’s global biofuels portfolio and its lower carbon solutions for UK customers, in line with its strategic aim of growing its bioenergy businesses as it transitions to become an integrated energy company. The investment follows BP’s recent stake in Gasrec, the UK’s largest dual provider of bio-liquified natural gas (LNG) and bio-compressed natural gas (CNG) to the heavy goods vehicles industry as part of the plan to abate emission is difficult sectors.

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