HVO market

According to the Fuel Quality Monitoring Report published by the European Environmental Agency (EEA) on October 25, 2022, the total supply of fuel for road and non-road machinery (NRM) was 10,585 petajoules (PJ) in the EU’s 27 member states (MS). 93.2% of this was derived from fossil fuels and 6.8% from biofuels. Of the 6.8% of biofuels consumed in the EU, hydrogenated vegetable oil (HVO) represented 1.4%. The breakdown of the types of fuel supplied in the EU in 2020 is shown in the figure below.

Note: HVO stands for hydrogenated vegetable oil, LPG stands for liquified petroleum gas, LNG stands for liquified natural gas, CNG stands for compressed natural gas, ETBE stands for ethyl tert-butyl ether and FAME stands for fatty acid met