Project Title: Bioethanol Plant
Location: Korhyn
Project Initiator: Private Enterprise
Project Overview: The current business plan was prepared in collaboration with the London Investment Fund on 01-02-2020, with an average investment rate of 6.0–6.25%. The estimated project timeline, from design to operational launch, is 18 months.
Investment Form: Co-financing
Investment Amount: $130.4 million
Payback Period: 11 years
The biggest source of concern is carbon emissions from fossil fuels and their negative impact on the environment. Due to the COVID-19 pandemic, national and international transit restrictions. Thanks to the government’s social quarantines, 2020 saw the lowest level of carbon emissions on record. As a result, biofuels derived from renewable resources are clearly a viable option to meet future energy needs.
Clean fuels are not new in this era; they have been associated with the advent of automobiles and the automotive industry in the early 19th century. The internal combustion engine (also known as the Otto engine) was developed by Nikolaus Otto in 1876. It works by combining ethanol as fuel and air with a flame or spark ignition.
The internal combustion engine was welcomed in the automotive industry, and the first flexible car, the Ford Model-T (1908-1927), ran on ethanol derived from corn.
In recent years, many scientists have been working to produce clean fuels from alternative and renewable sources to replace commercial petroleum products. From this point of view, vegetable oils are one of the most valuable renewable resources that can be used to produce clean fuels.
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For more information, please contact the Department of Economic Development, Trade and International Cooperation of the Zhytomyr Regional State Administration:25 Mala Berdychivska St., office. 204, or by phone: 0412 (47-44-92, 47-46-32).