THE HAGUE, Jul 13, 2010 -- Xinhua



The Anglo-Dutch energy exchange APX-ENDEX announced on Tuesday that it has signed the Letter of Intent with Rotterdam Port to develop the world's first biomass market.

APX-ENDEX said a recent survey indicates the need for standardized bio-energy products and it responds to the market' s request by investigating a market infrastructure.

According to the agreement, APX-ENDEX will provide a trading platform as well as clearing and settlement services. Rotterdam Port will contribute its expertise and know-how with regard to shipping, storage and distribution of biomass products. Once the details of the market structure are established, major market players will be approached for consultation.

The exchange will facilitate wider use of biomass products to generate renewable energy by providing a safe trading and investment environment for producers and end users.

The first biomass product, focusing on industrial wood pellets which can be used as a substitute for coal, will contribute considerably to carbon dioxide reduction goals.

"Biomass will be used as an alternative to fossil fuels, (and) a biomass exchange will encourage its supply and use," Hans Smits, CEO of Rotterdam Port said.

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