Singapore’s Apeiron Bioenergy closes equity investment from Mitsui Chemicals

Apeiron Bioenergy, a Singapore-based bioenergy products company, has announced closing an equity financing round from Mitsui Chemicals.

The amount remains undisclosed.

The funds will support Apeiron Bioenergy in increasing its collection capacity for waste-based feedstocks across Asian markets. It will also equip the company for exponential growth amidst growing demand for renewable feedstock for advanced biofuels, such as sustainable aviation fuel.

According to the International Energy Agency, global demand for renewable diesel is set to more than double, or by 11 billion litres, over the next five years. It mainly stems from government regulations in the US and the EU as established in the decarbonisation targets byCOP26.

However, the planned capacity is set to outpace domestic feedstock supply significantly, and production must keep up with the climate emergency.

Apeiron Bioenergy collects and processes a range of renewable feedstocks, including used cooking oil (UCO) and palm oil mill effluent (POME), and acts as a critical exporter across the Asian market.

Over the past 15 years, Apeiron Bioenergy has built its presence in over ten countries and collected more than 500 million litres of UCO between 2017-2021, offsetting an estimated 1.5 million tonnes of carbon emissions.

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“Zero Carbon emissions is one of our strategic targets by 2050. As one of Japan’s leading chemical companies, our investment in Apeiron is our way of contributing to solving the world’s future environmental issues,” said Tadashi Yoshino, Representative Director, Managing Executive Officer, Mitsui Chemicals.

Apeiron Bioenergy’s access to diversified sources and networks of feedstock and relationships with downstream customers means it is in an excellent position to access and supply downstream by-products for Mitsui Chemicals to help achieve its net zero targets.

Mitsui’s strategic investment will help Apeiron meet the substantial rise in biofuel demand by ramping up its capacity of collection points and processing facilities through both organic and inorganic growth.

The company actively seeks to acquire or collaborate with local collectors of sustainable feedstocks in the Asian markets.

“Tackling supply chain issues in bioenergy across Asia requires a community-focused, collaborative approach,” said Chris Chen, Managing Director of Apeiron Bioenergy. “We will ramp up our collection capability, collaborating closely with our downstream partners to resolve the wider sustainability problem of reducing carbon emissions across the land, sea and air transportation spaces.”

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