(UPM, Helsinki, 22 November at 14:00 EET) - UPM has received the PPI Bio Strategy Award 2016 for its biofuels business in Brussels, Belgium.The PPI Awards are the only global awards that are dedicated to recognizing the achievements of companies, mills and individuals in the pulp and paper sector.
The judges were looking for a company that has grabbed the opportunity in using wood, biomass or waste for the creation of bioenergy, biofuels and other non-core products signifying an entrance into the bioeconomy, and has demonstrated that the strategy impacts financial performance. A great example case of this is of course UPM's advanced biofuels production in the UPM Lappeenranta Biorefinery in Finland.
"We are very pleased and honoured to receive this recognition. We are convinced that the biofuels business makes sense in so many ways, as it uses residues for raw material, makes us less dependent on fossil oil, and is a fast track for reducing greenhouse gas and tailpipe emissions from transportation," says Sari Mannonen, Head of UPM Biofuels. "Last but not least we have been able to demonstrate that this is not only sustainable but also good business."
PPI Awards ceremony in Brussels - Sari Mannonen, Head of UPM Biofuels (fourth from left), accepted UPM's awards.
Excellence in the global pulp and paper industry was celebrated for the 8th year in a row at the PPI Awards on 21 November, held in conjunction with the CEPI European Paper Week in Brussels. Winners were selected by a high level jury which includes CEOs and professionals from pulp and paper industry, sustainability consultancy, specialised media and industry associations
In addition to the Bio Strategy Award category, UPM also won the Financial Strategy award at the PPI 2016 Awards.
Read more about the PPI 2016 Awards: http://events.risiinfo.com/ppi-awards
UPM BioVerno - innovative advanced biofuel
UPM Biorefinery in Lappeenranta, Finland is the first commercial scale biorefinery in the world producing wood-based, renewable diesel. The facility, worth 179 million EUR, with an annual capacity of 100,000 tonnes of UPM BioVerno diesel has been built without any public investment grants. The construction of the biorefinery started in summer 2012 and the commercial production in January 2015.
UPM BioVerno is produced out of crude tall oil, a wood-based residue of pulp production. A big portion of the raw material comes from UPM's own pulp mills in Finland.
UPM BioVerno wood-based diesel combats the climate change by significantly reducing greenhouse gas and tailpipe emissions in traffic, and works with all diesel engines just as well as the premium diesels.
For further information please contact:
Sari Mannonen, Vice President, UPM Biofuels, tel. +358 45 265 1345
UPM, Media Relations
tel. +358 40 588 3284
UPM plans to become a major player in high quality, advanced biofuels for transport. Biofuels are an essential part of the Biofore strategy. The innovative wood-based biofuels developed by the company and their production technologies are part of a sustainable future. UPM's biofuels are frontrunners in quality, usability and sustainability. They will significantly decrease greenhouse gas emissions compared to fossil fuels. www.upmbiofuels.com
Through the renewing of the bio and forest industries, UPM is building a sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Paper ENA and UPM Plywood. Our products are made of renewable raw materials and are recyclable. We serve our customers worldwide. The group employs around 19,600 people and its annual sales are approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM - The Biofore Company - www.upm.com