Investors have lost hundreds of millions of pounds because of government inaction, the UK’s largest bioethanol producer said after it suspended operations indefinitely. Vivergo, owned by Associated British Foods, said it had been forced to shut down because the government had broken its promises to boost the use of biofuels for transport. It will retain its 150 workers at its plant in Hull for the time being. Mark Chesworth, chief executive of Vivergo, said the £350m facility was built to meet expected demand for biofuels in regular petrol and diesel, to cut carbon emissions. But in the absence of policies supporting biofuels, the market has not materialised.
FT 6th Dec 2017 read more »
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