The planned increase in biodiesel blend will help Philippines-based manufacturer and distributor Chemrez Technologies to make more sustainable and environment-friendly products.
Chemrez Technologies earlier said that it supports the recommendation of the National Biofuels Board (NBB) to increase the mandated biodiesel blend from 2 percent to 5 percent (B5) under the Biofuels Act of 2006.
According to the company, the NBB’s move is a significant step in accomplishing the goal of Chemrez Technologies to develop and market sustainable products that benefit the Philippines and the environment.
“We hope that with commitment and urgency, the increase to B5 will be immediately implemented,” said Chemrez Managing Director Dean Lao Jr.
“We at Chemrez will not only fully support NBB, but as an active product innovator and advocate of Green Chemistry, we will constantly work on innovations that will help us continue to take steps toward cleaner energy,” he added.
According to Chemrez, the local coconut industry is currently challenged by cheaper palm oil, which has depressed prices. In particular, the Department of Agriculture took note of the struggles of coconut farm workers and advocated for higher biodiesel blend in the Philippines.
Also, the blending of coco biodiesel into diesel will reduce the country’s dependence on imported oil, supportive of Philippine Energy Plan that aims to achieve energy independence within the next decade.
Chemrez cited that by simply blending 5-percent coco biodiesel into diesel, the Philippines can actually save an estimated P13-billion worth of imported crude oil every year.
The B5 implementation will be set for public consultations. Once approved, given existing capacity in the industry, local production can adequately meet the demand of the B5 mandate.
At present, Chemrez Technologies has the largest biodiesel capacity in the market, and is the leading manufacturer of resins, oleochemicals and specialty products in the Philippines.
The NBB is chaired by the Energy secretary and has for its members the heads of the departments of Trade and Industry, Science and Technology, Agriculture, Finance and Labor and Employment, and those from the Philippine Coconut Authority and the Sugar Regulatory Administration.