SHELL SIGNS AGREEMENT WITH SBI BIOENERGY INC.
Agreement grants Shell exclusive development and licensing rights for SBI BioEnergy patented renewable drop-in biofuels.
Calgary, June 26, 2017 - Royal Dutch Shell plc, through its subsidiary Shell International Exploration and Production B.V. (“Shell”), and SBI BioEnergy Inc. have reached an agreement granting Shell exclusive development and licensing rights for SBI’s biofuel technology. Edmonton-based SBI has a patented process that can convert a wide range of waste oils, greases and sustainable vegetable oils into lower carbon drop-ins for diesel, jet fuel and gasoline. Under the agreement, Shell and SBI will work together to demonstrate the potential of the technology and, if successful, scale up for commercial application.
“We are confident that Shell is the right industry partner to commercialize our low carbon intensity renewable fuel process,” says Inder Singh, SBI’s Founding President & CEO. “Working with Shell means that we have a partner with proven capabilities to investigate the potential this technology has for global application and that is something that is very exciting for us.”
SBI uses a continuous catalytic process that converts fat, oil or grease into renewable gasoline, diesel and jet fuel that can be dropped directly in to petroleum fuels. SBI’s drop-in products do not require blending or any modifications to engine or infrastructure. Biofuels emit less CO 2 than petroleum products so their addition to fuels has the potential to reduce transport emissions and help fuel suppliers to meet lower carbon or renewable fuel standards.
“SBI has a promising new Canadian biofuels technology,” says Andrew Murfin, General Manager, Advanced Biofuels for Shell. “This is a great opportunity for us to combine Shell’s innovation and commercialization capabilities with SBI’s technical expertise to investigate the potential this technology has for commercial application.”
Shell believes biofuels are essential to decarbonize transport fuels because they represent one of the most practical, commercial and cost-efficient solution to reduce CO2 emissions in the transport fuels sector over the next twenty years. Raízen, a joint venture between Shell and the Brazilian company Cosan, is one of the world’s largest producer of sugar-cane ethanol. Shell is also developing advanced biofuels made with non-edible plants and cropwaste.
Cautionary Note
The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate entities. In this announcement “Shell”, “Shell group” and “Royal Dutch Shell” are sometimes used for convenience where
references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this announcement refer to companies over which Royal Dutch Shell plc either directly or indirectly has control. Companies over which Shell has joint control are generally referred to “joint ventures” and companies over which Shell has significant influence but neither control nor joint control are referred to as “associates”. In this announcement, joint ventures and associates may also be referred to as “equity-accounted investments”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in a venture, partnership or company, after exclusion of all third-party interest.
This announcement contains forward-looking statements concerning the financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, ‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this announcement, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; and (m) changes in trading conditions. All forward-looking statements contained in this announcement are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Royal Dutch Shell’s 20-F for the year ended December 31, 2015 (available at www.shell.com/investor and www.sec.gov). These risk factors also expressly qualify all forward looking statements contained in this announcement and should be considered by the reader. Each forward-looking statement speaks only as of the date of this announcement, 20 October 2016. Neither Royal Dutch Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forwardlooking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this announcement.
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