VALLEY FORGE, PA – (COMMERCIAL THREAD) – SHV Energy and UGI International, a subsidiary of UGI Corporation (NYSE: UGI), off-grid energy distributors, today received approval from the European Commission to form a joint venture to advance production and the use of renewable dimethyl ether (“rDME”).
The proposed joint venture has been approved, marking an important milestone that will allow both parties to form the joint venture and begin operations in early 2022. As previously announced, the joint venture is intended to gain market acceptance and accelerate use. of rDME as a source of renewable energy. solution for the LPG industry. The parties anticipate the development of up to 6 production plants over the next 5 years, targeting a total production capacity of 300,000 tonnes of rDME per year by 2027. Total investment in production capacity is estimated to $ 1 billion, which should involve third-party investment.
About UGI International
UGI International, a subsidiary of UGI Corporation, is a leading distributor of LPG and operates in 17 European countries, serving a customer base of approximately 615,000 end users. UGI International markets under several brands including AmeriGas, Antargaz, AvantiGas, DVEP Energie, Flaga, Kosan Gas and UniverGas. In 2021, UGI International served clients in broad markets, such as commerce and industry, residential, agriculture, automotive gasoline and aerosols, retailing 1.7 million tonnes of LPG.
About UGI Corporation
UGI Corporation is a distributor and distributor of energy products and services. Through subsidiaries, UGI operates natural gas and electricity utilities in Pennsylvania and West Virginia, distributes LPG both nationally (via AmeriGas) and internationally (via UGI International), manages intermediate energy assets in Pennsylvania, Ohio and West Virginia and power generation assets in Pennsylvania, and engages in the marketing of energy, including renewable natural gas in the eastern region of the United States and California, and internationally in France, Belgium, the Netherlands and the United Kingdom.
Complete information about UGI Corporation is available on the Internet at https://www.ugicorp.com.
About SHV ââEnergy
SHV Energy is one of the world’s leading distributors of off-grid energy such as LPG and LNG and is active in the field of sustainable fuels and renewable energy solutions. SHV Energy is a wholly owned subsidiary of SHV, a family-owned multinational, and consists of a group of specialist energy companies. The company’s brands include Calor, Ipragaz, Liquigas, Pinnacle, Primagas, Primagaz and Supergasbras. Together with these companies, SHV Energy’s mission is to provide decentralized, low-carbon and clean energy solutions to 30 million commercial and residential customers who are not connected to the energy grid.
More information about SHV ââEnergy is available at https://www.shvenergy.com.