(Alliance News) - Circle Spa announced Monday that its subsidiary Magellan Circle has been awarded the Fuels-C project.

Funded under the Horizon Europe program and with a total budget of about EUR4 million, Fuels-C for Circle is worth EUR200,000 during the 42-month implementation period.

Fuels-C brings together 11 partners from 7 EU countries, and its main objectives are to produce new sustainable advanced biofuels from low-cost organic waste and biogenic CO2 through a range of highly efficient conversion technologies and advanced modeling approaches, thus reducing dependence on fossil fuels in the EU and maximizing the use of organic carbon for biofuel production.

The project's sole Portuguese partner, Magellan Circle will be responsible for developing Fuels-C's communication and dissemination activities, the company explained in a note.

On Monday, Circle closed 2.0 percent in the red at EUR6.86 per share.

By Claudia Cavaliere, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.