Chemrez eyes additional sales

Philippine-based Chemrez Technologies, Inc., is looking at Php2 billion (US$42.6 million) in additional sales once the 2% biodiesel blending requirement takes effect in 2009. Chemrez earlier said its net profit had gone up by more than a third in the first half of the year, driven mainly by biodiesel sales to oil companies. Chemrez Technologies Chief Operating Officer Dean A. Lao, Jr. said the government is firming up biodiesel standards in preparation for stricter blending requirements. The energy department met with the industry to discuss specifications of the blend. “The meeting focused on making sure that the specifications for the [biodiesel] blend will contain enough coco methyl ester (CME). It’s important because coco methyl ester can be adulterated with palm methyl ester (PME),” he pointed out. PME costs less than CME. (September 12, 2008)