Chemrez Technologies sees more growth from biofuels

Philippine-based Chemrez Technologies, Inc., expects biofuels to continue as its largest operating business in 2010. In a statement, Chemrez Technologies pointed to the government’s plan to increase the blend of coco-biodiesel in all diesel fuel sold in the retail outlets to 5% from the current 2%. The 2% blend of coco-biodiesel was implemented in February 2009, boosting sales at Chemrez Technologies by 22%. (June 22, 2010)