2023 outlook on biofuels: advanced biofuels mandate kicking off

A specific mandate for lignocellulose and waste and residue based advanced biofuels was our vision 10 years ago when UPM in February 2012 made the investment decision to build our first biorefinery in Lappeenranta, Finland. We believe the mandate will further boost investments in advanced biofuels.

Looking back at the last 10 years our operating environment has changed tremendously. Let me consider some of those changes: complexity, growth, and the new kid on the block.

This year is an important milestone for companies - like UPM Biofuels - involved in the advanced biofuels industry. After a long wait, a dedicated and compulsory mandate for advanced biofuels based on EU-wide rules is now a reality and transposed into national legislation