News Release
12 May 2008
Foster Wheeler Awarded Contract for CFB Gasifier for Biomass to Liquids (BTL) Pilot Plant in Finland
HAMILTON, Bermuda–(BUSINESS WIRE)–May 12, 2008–Foster Wheeler Ltd. (Nasdaq: FWLT) announced today that its Finnish subsidiary Foster Wheeler Energia Oy, part of its Global Power Group, has been awarded a contract by NSE Biofuels Oy Ltd. for a circulating fluidized-bed (CFB) biomass gasifier to be located in Varkaus, Finland. NSE Biofuels Oy Ltd. is a joint venture owned 50/50 by Stora Enso Oyj and Neste Oil Corporation.
Foster Wheeler’s scope includes an oxygen/steam gasifier and gas treatment equipment. The plant utilizes Foster Wheeler’s fuel-flexible circulating fluidized-bed gasification technology to convert a wide spectrum of biomass into a clean syngas to be used in a gas to liquids (Fischer-Tropsch) process to produce feedstock for renewable diesel from biomass/wood residue-based gas. The gasification and syngas cleaning system is part of NSE’s new-generation renewable diesel demonstration plant at Stora Enso’s Varkaus Mill in Finland.
Foster Wheeler has received a full notice to proceed on this contract. The terms of the award were not disclosed, and the contract will be included in the company’s bookings for the second quarter of 2008. The plant is expected to start up in early 2009 and will be integrated into the energy infrastructure of the Stora Enso Varkaus Mill.
Foster Wheeler and the JV partners have also agreed in principle for further co-operation, aiming for delivery of a commercial-scale production plant to be located at one of Stora Enso’s mills.
"This project is a major step forward in the development of technologies to reduce CO2 emissions," said Tomas Harju-Jeanty, president and chief executive officer of Foster Wheeler Energia Oy. "With our world-leading biomass gasifying technology, we are excited to be a key player in this project led by Stora Enso and Neste Oil which uses wood-based biomass for production of biofuels, thereby reducing the use of fossil fuels in transportation."
Foster Wheeler Ltd. is a global company offering, through its subsidiaries, a broad range of engineering, procurement, construction, manufacturing, project development and management, research and plant operation services. Foster Wheeler serves the upstream oil and gas, LNG and gas-to-liquids, refining, petrochemicals, chemicals, power, pharmaceuticals, biotechnology and healthcare industries. The company is based in Hamilton, Bermuda, and its operational headquarters are in Clinton, New Jersey, USA. For more information about Foster Wheeler, please visit our Web site at www.fwc.com.
Neste Oil Corporation is a refining and marketing company concentrating on clean, high-quality traffic fuels. The company pursues growth in both oil refining and high-end renewable diesel production. Neste Oil refineries are located in Porvoo and Naantali, and their combined crude oil refining capacity is about 260,000 barrels a day. The company’s net sales in 2007 were EUR 12,103 million and it employs about 5,100 people. Neste Oil’s share is listed on the Nordic Stock Exchange in Helsinki. www.nesteoil.com.
Stora Enso is an integrated paper, packaging and forest products company producing newsprint, magazine paper, fine paper, consumer board, industrial packaging and wood products. Stora Enso’s sales totaled EUR 13.4 billion in 2007. The Group has some 38 000 employees in more than 40 countries on five continents. Stora Enso has an annual production capacity of 13.1 million tones of paper and board and 7.5 million cubic meters of sawn wood products. Stora Enso’s shares are listed in Helsinki and Stockholm.
CONTACT: Foster Wheeler Ltd.
Maureen Bingert, 908-730-4444
maureen_bingert@fwc.com
or
Jan Rogers, 908-713-3288
jan_rogers@fwc.com
or
Other Inquiries
908-730-4000
www.fwc.com/GlobalPowerGroup
SOURCE: Foster Wheeler Ltd.