KG Eco Solution, a company specializing in eco-friendly energy, has signed supply contracts for high-quality biofuel with three major domestic refineries.
The company announced on July 28 that it has secured a contract to deliver hundreds of tons of high-quality biofuel from the end of July through August with its third major domestic refinery.
KG Eco Solution stated, "This achievement signifies our establishment as a key supplier in the high-quality marine biofuel market, going beyond merely expanding our sales channels." Biofuels supplied to refineries typically require much higher quality standards and stable supply capabilities compared to conventional biofuels used for power generation.
This year, KG Eco Solution has been continuously developing formulation and quality improvement technologies centered around its newly established R&D organization.
Starting in August, KG Eco Solution plans to significantly expand its supply of high-quality biofuel to refineries. With increasing requests for larger volumes from major refineries, the company aims to focus its efforts on securing internationally certified raw materials and optimizing its production processes for timely and stable supply.
High-value-added biofuels have a high initial entry barrier, but once integrated into the supply chain, they can establish long-term and stable trading relationships. The company expects to continuously increase the proportion of high-value-added products in its sales, leading to improved operational efficiency and stable turnaround.
Park Saeng-geun, CEO of KG Eco Solution, remarked, "The supply contracts with three major domestic refineries signify that our quality and technological competitiveness have been recognized in the market. We will further strengthen our R&D and production capabilities to expand the supply of high-quality marine biofuel and solidify our market leadership."
KG Eco Solution previously announced in May that it had begun supplying high-quality biofuel to refineries.
* This article has been translated by AI.
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