The Biofore company, UPM, enters the biochemicals business by investing $607 million in a biorefinery at Leuna, Germany. The expansion will help the company to switch from fossil raw materials to sustainable solutions with next-generation biochemical. The investment in biorefinery will help produce a range of 100% wood-based biochemical, and also it opens new markets for UPM.
The company will convert solid wood into next-generation biochemical such as bio-monoethylene glycol (BioMEG). The new plant would have a total annual capacity of 220,000 tonnes. The companys new facility is scheduled to start up by the end of 2022. BioMEG is used in various industries such as composites, pharma, cosmetics, and detergents productions.
The prominent investments and expansions by UPM are featured below.
- January 2020: UPM built a new pulp mill in Uruguay. The companys new pulp mill is located in Paso de los Toros. The new pulp mill will significantly increase the volume of UPMs pulp trade in the region.
- November 2019: UPM Raflatac has announced the opening of a new labelstock slitting and distribution terminal in Chelyabinsk, Russia. The new facility features two meter-wide slitting capabilities. It helps UPM Raflatac to offer an expanded range of innovative and sustainable paper, film and specials products to customers in the Ural region.
- October 2019: UPM announced investments in a Combined-Heat-Power (CHP) plant at its Nordland paper mill in Dörpen, Germany, to reduce cost and CO2 emissions. The expansion includes a new, highly efficient 80 MW gas fired power plant. The investment will help to phase out coal power generation in Germany.
- September 2019: UPM Biofuels announced a partnership with Dow chemicals for the commercialization of a plastics offering for the packaging industry made from a bio-based renewable feedstock.
UPM, headquartered in Helsinki, Finland is a global platform for manufacturing sustainable and innovative products. The company operates through six business areas: UPM Raflatac, UPM Biorefining, UPM Energy, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. The company provides renewable and innovative solutions for a future beyond fossils. The company employs approximately 19,000 people worldwide.