The Finnish timber and paper giant said it expects to make a decision about its first commercial-scale production plant in the next few years. It will be located next to one of the company’s paper mills in Finland, France, Germany or the UK.
UPM president Jussi Pesonen said: “The importance of renewable fuels is increasing and we consider this an opportunity to further utilise our existing value chain.”
He added that investment in developing concepts and plants would be significant as the production of biofuel was a good fit with adding value to its core wood raw material.
“Our aim is to maximise the gain from the biomass-based raw material,” he said.
