KRPN completes expansion of bio ship fuel facilities... "Considering additional expansion due to increased demand"

[Asia Economy Reporter Hyunseok Yoo] KRPN announced on the 10th that it has completed the expansion of its eco-friendly bio marine fuel production facility utilizing its proprietary technology ‘SYN-TG (Synthetic Triglyceride Process)’. Through the operation of core process facilities with an annual capacity of 30,000 tons, a fivefold increase from the previous 6,000 tons, the company is set to actively expand its business.

KRPN’s SYN-TG technology is capable of producing high-viscosity biofuel with a cetane number below 2.5, and depending on the synthesis method, it can even control the low-temperature fluidity of the oil. According to the company, it is recognized as the only case that has overcome the limitations of using biofuel as marine fuel.

With this process facility expansion, KRPN expects to utilize low-cost raw materials (high acid value) that were previously impossible with the existing SYN-TG technology due to technical limitations, enabling more than a threefold increase in sales and securing profitability for a turnaround. In addition to meeting the product specifications of existing bio heavy fuel oil and mass production, the company explained that it can now also meet international quality standards for demanding engine power generation use (acid value below 10) and marine engine fuel products (acid value below 5), allowing flexible responses to various products and customer demands.

A KRPN official stated, “The bio marine fuel we developed is based on glycerin and fatty acid polymerization technology (SYN-TG), and this expansion involved an investment of 6 billion KRW to increase the production capacity of marine fuel facilities,” adding, “With the surge in demand for low-sulfur fuel oil causing prices to soar, KRPN’s bio marine fuel’s price competitiveness and technological prowess are being highlighted, and discussions on adoption are actively underway, especially among overseas refiners.”

He continued, “Considering the current market situation, the supply of bio marine fuel is absolutely insufficient, and given the increasing demand, we must expedite further expansion,” adding, “Through facility expansion and the differentiated SYN-TG process, we will leap forward as an eco-friendly bioenergy company creating high added value.”

Meanwhile, the IMO2020 (IMO GLOBAL SULFUR LIMIT 2020) regulation, aimed at preventing air pollution, limits the sulfur content in marine fuels worldwide to 0.5% or less to regulate sulfur oxide emissions, and came into effect on January 1 of this year. In response, major global shipping companies have begun expanding the use of low-sulfur fuel oil instead of high-sulfur fuel oil. As a result, global demand for low-sulfur fuel oil is rapidly increasing. Major refiners worldwide have already invested trillions of KRW in facilities and are competing to launch and produce low-sulfur and ultra-low-sulfur fuel oils.

This content was produced with the assistance of AI translation services.