In the United Arab Emirates (UAE) Zawya reported that Lootah Biofuels has signed a Memorandum of Understanding (MoU) with Atmosphere Hotels & Resorts to produce and supply biodiesel and provide waste cooking oil recycling services in the Maldives.
The main aim of the MoU is to reduce the impact of CO2 by replacing normal diesel with biodiesel. The agreement also supports the collection and recycling of used cooking oil from luxury resorts, hotels, restaurants, and households to produce biodiesel in the Maldives.
The MoU will also play a key role in supporting the Maldives’ target to achieve net-zero emissions by 2030.
Valued at US$ 15 million, the Dubai-based Lootah Biofuels was established in 2010.
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