France: the fourth largest potential biofuel consumer in the world
According to Philippe Favre, president of the French Agency for International Investment, France is already Europe's second biofuel market. Add in the facts that France's "Grenelle de l'Environment" plan aims for even more investment in renewable energies to reduce CO2 emissions, the Transport Federation's commitment to use more biofuels for road freight, and that French marques promote the use of biodiesel and ethanol in their vehicles.
Some examples of investments in the Hexagone are 70 million EUR biodiesel plant in Baleycourt by INEOS, SICLAÉ and C.Thywissen, or Cargill's 50 million EUR investment in Montoir to increase biodiesel production. France has also sponsored nation-wide clusters that help companies in developing new biofuels, as well as setting up new businesses.
[Source: Ernst & Young via Econoticias]
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