Sweden-based bio-LNG producer Scandinavian Biogas has changed its name to Biokraft International.
The firm said in a statement it decided to rebrand of ahead of upcoming northern European expansion with a focus on liquefied biogas or bio-LNG.
CEO Matti Vikkula said in the statement that the name Biokraft comes from its Norwegian subsidiary, one of the world’s largest producers of liquefied biogas today.
“We expect the demand for liquid biogas to grow strongly, and our ambition is to take a leading position and greatly increase our production capacity,” he said.
Vikkula added that the company runs about ten projects with the aim of building “several” production facilities in Northern Europe.
In April, the bio-LNG producer said it will stablish a unit in Germany and plans to invest up to 90 million euros ($98.3 million) in two German biogas projects.
Earlier this year, Scandinavian Biogas also decided to build a new bio-LNG plant worth about $75 million in Monsteras, Sweden.
This move is a part of the company’s plans to reach a production capacity of 3 TWh in 2030, mainly bio-LNG.
Last year, Scandinavian Biogas also signed a long-term deal to supply bio-LNG to German fueling station operator Alternoil.