Milano, 13 October 2022 – Green LG Energy S.r.l. (Milano) and BioLPG LLC (Washington, DC) today announced the signing of a major agreement that increases funding for further development of the GTI Energy renewables-sourced green LPG (“bioLPG”) Cool LPG technology and for preparation of bioLPG production at scale within the next few years.
Green LG Energy S.r.l. (GLGE), a strategic joint venture for the development of new technologies for the production and distribution of LPG derived from renewable sources, was established on 6 July 2022 in Milan. It was founded by AGN ENERGIA, Beyfin, Cavagna Group, Gruppo Socogas and Veroniki Holding/Butangas, who are among the major players in the fuel and energy sector.
GLGE has a near-term goal of contributing to decarbonization through Italian and European sourcing of vitally needed LPG. Francesco Franchi, Chairman and Managing Director of GLGE, said “We at GLGE recognize that production of affordable, green bioLPG at scale must be achieved as soon as possible to serve energy needs while reducing emissions in line with ambitious targets being set globally. Our collaboration with BioLPG LLC and with GTI Energy is clear evidence of our commitment to that goal”.
The official announcement was made today during the event promoted by Assogasliquidi – Federchimica as part of the ongoing Fuels mobility event at Bologna Fiere.
BioLPG LLC and its UN-backed NGO affiliate, The Global LPG Partnership, have received an exclusive global license from GTI Energy to bring to market the GTI Energy Cool LPG technology that converts biogas into bioLPG, a 100% renewable liquid fuel for cooking, heating, and transportation. BioLPG LLC Chairman Kimball Chen said “Our Cool LPG work with GTI Energy and GLGE has great potential to provide bioLPG needed for world progress toward zero emissions by 2050”.
GTI Energy, a leading technology research organization, works with a global spectrum of partners to develop, scale and deploy energy solutions that improve lives, economies, and the environment. GTI’s President and CEO, Paula Gant, said, “The Cool LPG project exemplifies how, through collaboration, the expertise of the GTI Energy team can deliver impactful innovations. We are thrilled to take essential steps with GLGE and BioLPG LLC toward the promise of a low-cost, low-carbon energy future.”
About Green LG Energy S.r.l.
A company established to develop new technologies for the production and distribution of LPG derived from renewable sources, that was established on July 6, 2022 in Milan, Italy. It was founded by AGN ENERGIA, Beyfin, Cavagna Group, Socogas and Veroniki Holding/Butangas, among the major players in the fuel and energy sector.