NZ biofuel plant shelved

By
Monday, 27 August, 2007

Biofuel producer LanzaFuels New Zealand has stopped plans for a local biofuels production plant.

LanzaFuels had been planning to build a large-scale ethanol production plant using locally grown maize, powered by wood waste.

A spokesman, Howard Moore, said the cost of importing biofuels was now cheaper than making it.

"Brazilian prices for fuel ethanol are currently at historically low levels and so, combined with the strong New Zealand dollar, the cost to import ethanol is now lower than it can be made locally."

LanzaFuels had planned to target land currently used for beef and sheep farming.

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