Danseok Industry Signs MOU with US Next Renewable Fuels for Low-Carbon Raw Materials

Global resource circulation leading company Danseok Industry (CEOs Seungwook Han and Jongwan Kim) announced on the 18th that it has signed an MOU with NEXT Renewable Fuels, Inc., a next-generation low-carbon fuel company in the United States, to supply raw materials for biodiesel, renewable diesel (RD), and sustainable aviation fuel (SAF).

NEXT, the company that signed the MOU, is a global resource circulation leader producing clean low-carbon fuels. Under this agreement, Danseok Industry will supply and sell feedstock and biofuels between the two companies through GoLobiomass, LLC, a wholly owned subsidiary of NEXT. Additionally, the MOU includes investment and development of feedstock preprocessing facilities in Korea, the United States, and third countries, aiming to contribute to the decarbonization of the entire corporate value chain.

Danseok Industry cited its strengths in the bioenergy business as the background for pursuing this agreement with NEXT, including ▲a solid position in supplying low-carbon feedstock within Asia and ▲feedstock and bioenergy storage tank infrastructure. A Danseok Industry official stated, “This MOU is significant as it is the first next-generation feedstock supply agreement Danseok Industry has signed with a U.S. clean low-carbon fuel company.”

Going forward, NEXT plans to build a large-scale clean fuel facility in Oregon to produce low-carbon renewable diesel and sustainable aviation fuel, which is expected to improve the profits of both companies. Furthermore, since the U.S. implements the Renewable Fuel Standard (RFS), a renewable fuel blending mandate, demand for biofuels is expected to continue rising.

Christopher Epird, CEO and Chairman of NEXT, said, “Through this MOU, we will maximize synergy with Danseok Industry, a specialized low-carbon feedstock supplier, and NEXT, a global renewable fuel production expert, to maintain a strong relationship. We will secure a smooth supply chain, gain a competitive edge in clean fuel production in the U.S., and dedicate ourselves to building a global low-carbon feedstock supply network.”

Danseok Industry is a global resource circulation company engaged in bioenergy (biodiesel/bio-heavy oil), metal materials (recycled fuel), and precision materials (PVC stabilizers, etc.). Since 2017, it has consistently maintained the top position in domestic biodiesel exports and achieved a 71% share of total biodiesel exports as of 2022. Notably, over the past decade, the total volume of biodiesel exported by Danseok Industry has contributed to reducing approximately 2.38 million tons of carbon emissions based on ISCC-EU standards, solidifying its position in the globally expanding resource circulation industry.

Seungwook Han, Chairman of Danseok Industry, stated, “Through this MOU with NEXT, our company will actively cooperate to promote mutual benefits and global carbon neutrality. Going forward, we will accelerate overseas market development through strategic partnerships with various global companies based on eco-friendly bioenergy that meets global quality standards.”

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