Dubai FDI And Neutral Fuels Move Past A Sustainability Milestone
Dubai FDI, the foreign investment office of the Department of Economic Development (DED), has achieved a milestone for green initiatives in Dubai with Neutral Fuels, the first bio refinery licensed in Dubai now set to double its capacity. The refinery is the first of its kind project in the Middle East, facilitated by Dubai FDI as part of promoting innovative investments that help achieve sustainable economic development.
“Along with Dubai’s Green Economy Partnership strategy, the emirates’ pioneering spirit and ability to fast-track business start-up and development is proving to be a critical asset to sustainability initiatives. Neutral Fuels and its remarkable growth will inspire further investments in green initiatives across Dubai,” commented Fahad Al Gergawi, Chief Executive Officer of Dubai FDI.
Since commencing production in July 2011, Neutral Fuels has produced over a million litres of biodiesel from used cooking oil, providing an environmentally friendly and economical fuel option to fleets and businesses. The company’s production capacity will be raised to two million litres per annum starting in November, 2012.
Karl Feilder, Chairman & CEO of Neutral Fuels, said that Dubai-based vehicles had now driven the equivalent of 30 times around the Earth on their clean, green biodiesel. “This translates to many tonnes of carbon offset from the atmosphere, proving that biodiesel is a long-term, financially viable, and sustainable alternative.”
Feilder said Neutral Fuels chose to launch in Dubai after Dubai Government extended all support through Dubai FDI. “Dubai Government has shown their seriousness in encouraging innovation and entrepreneurs in the emirate and strong backing to environmental sustainability. Neutral Fuels is a testament to their focus on business growth and the commercial application of state-of-the-art technology.”
Al Gergawi added: “Dubai has set an example by integrating economic development and sustainability through the Green Economy Partnership. This will have far-reaching implications, in enhancing quality of people’s life in Dubai, making the emirate a global centre for the development and application of clean technologies, and enabling such technologies to reach key locations in the region and beyond, through Dubai.”
Referring to the increasing reliance on biodiesel worldwide, Feilder said it’s the only renewable transport fuel option that can be commercially deployed in the Middle East today. The ‘well-to-wheel’ lifecycle analysis of used cooking oil-to-biodiesel typically shows that the amount of carbon dioxide (and equivalents) emitted is approximately 80% lower than fossil diesel.
Biodiesel also has excellent lubricating properties that help prevent premature engine wear and failure. It acts as a cleaning detergent in fuel systems, removing sludge deposited over time and cleaning up fuel systems, thus improving efficiency and reducing long term maintenance costs.
Feilder stressed the only way for sustainability to succeed is to make it account for itself on the bottom line, adding that biodiesel had proven itself a viable business alternative in the face of ever-increasing and volatile world oil prices.
“From the outset our customers have paid a commercially viable and stable price for their biodiesel, reaping the economic benefits of predictable pricing for their fuel-related transportation costs. You can’t deny that a dedicated focus on reducing carbon leads to reductions in operating costs and improvements in the efficiency of assets. In the process our customers are helping to protect the environment,” stated Feilder.
In February this year Neutral Fuels was one of the companies recognised by the Dubai Road and Transport Authority (RTA) for their commitment to sustainable transport, receiving the 2011 Dubai Award for Sustainable Transport in the Environmental Protection Category.
Emirate: Dubai
Date: Nov 21, 2012
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