Press Releases

Change in CHOREN’s ownership structure and capital increase

Shell Deutschland Oil GmbH has sold its shares in CHOREN Industries GmbH to all the remaining CHOREN shareholders.

Freiberg, 5th November 2009

Shell Deutschland Oil GmbH has sold its shares in CHOREN Industries GmbH to all the remaining CHOREN shareholders. The parties agreed not to disclose any information on the general business-related background to this transaction. Accordingly, the remaining shareholders, a syndicate consisting primarily of Hamburg-based entrepreneurs as well as the carmakers Daimler AG and Volkswagen AG, emphasize their engagement. The major shareholder Turina and other leading shareholders will arrange a further capital increase for the upcoming projects.

Shell and its shareholding partners in CHOREN jointly agreed to this transaction, said a Shell Spokesperson.

The technical expertise of Shell will provide future support in developing this second-generation biofuel to market maturity, said Marcell Ulrichs, CEO of Choren.

Contact:

Dr. Ines Bilas
CHOREN Industries GmbH
Frauensteiner Straße 59
09599 Freiberg
Tel. +49 3731 2662-226
www.choren.com

Background:

CHOREN is an internationally leading supplier of technologies for synthesis gas production from carbon-containing solids. By gasification a high-purity, high-energy synthesis gas is produced, that can be used for the production of BTL, a second-generation biofuel, as well as traditional synthesis gas products (e.g. ammonia and methane) and for the generation of electricity especially in CHP (combined heat and power) plants.

Currently the world’s first commercial BTL production plant, the so called Beta plant, is starting up in Freiberg. BTL is a high-purity synthetic biofuel, de facto free of sulphur and aromatics. BTL burns with extremely low emissions and is virtually CO2-neutral, since its combustion only releases the quantity of CO2 that was captured during the growth of the biomass feedstock. Storage and distribution of BTL require no alterations to existing fuel infrastructure. Moreover, BTL is fully compatible with current and future diesel engine technology.