Friday, November 30, 2018

Global Biofuel Market Poised for Significant Growth

A successful leader in the energy business, Levon Termendzhyan serves as an equity holder of Viscon, a company that produces and distributes a diesel-fuel additive to reduce harmful toxic emissions. In addition to this, Levon Termendzhyan serves as a joint-venture partner with Ibris Bio-Fuels Pte., Ltd., as part of his efforts to introduce biofuels to the U.S. market.

According to the 2017-2023 Global Automotive Biofuels Market report, the automotive biofuels market will increase to nearly $196 billion by 2023 from $118.63 billion in 2017. During this time, the market will experience an 8.67 percent compound annual growth rate (CAGR).

Biofuels, a renewable energy that has fewer emissions than fossil fuels, can be made from a huge range of items, including potatoes, corn, and vegetable waste. The sustainable nature of this fuel has made it an increasingly in-demand alternative to petroleum gasoline. However, many consumers are unaware of how biofuel can benefit their automobiles, so growth in the market has been restrained.

Despite this, experts still predict that the market will grow. The forecasted growth in the Global Automotive Biofuels Market report will most likely be driven by rising air pollution and fossil-fuel prices. Furthermore, government support for biofuels and their emissions regulations will also drive growth up around the world. 

Currently, Europe has the strictest governmental regulations in place in regard to emissions. Because of this, the continent also accounts for the largest share of the biofuels market. However, the Asia-Pacific regions and the Americas show the fastest growth in biofuel demand.

Friday, November 9, 2018

CARB Announces Continued Dedication to Find Illegal Diesel Filters

Accomplished leader in the energy industry Levon Termendzhyan leads Viscon USA and Viscon International as an equity owner. With his guidance, Viscon produces the Viscon product, a diesel fuel additive that boosts fuel efficiency while reducing emissions. Active in the professional community, Levon Termendzhyan has been associated with such organizations as the California Air Resources Board (CARB).

Recently, CARB, an organization dedicated to protecting public welfare and health in California, announced that it’s taking a serious stand against illegal diesel soot filters. These filters trap cancer-causing soot in diesel trucks and are essential for keeping the public healthy and safe. When a truck’s soot filter is not working properly, California state law requires that truck owners change it. However, CARB regulates which filters can be installed and sold in the state, and it certifies those filters that are suitable for use in California.

State law also bans the sale of illegal and used diesel soot filters in its Aftermarket Parts and Diesel Particulate Filter Verification Regulations. Companies who violate these regulations are penalized. In the recent announcement, it was shared that LKQ Corporation would pay a $294,000 penalty for selling illegal diesel soot filters. A related case from 2017 was also mentioned. In this case, a repair shop in Fresno agreed to pay penalties for selling and installing illegal filters and sparked further investigation into several other diesel repair shops in the Central Valley.

With this new announcement, CARB reinforced the importance of both business owners and consumers taking responsibility for the installation and sale of illegal filters. Truck drivers need to ensure the filters they receive from a repair shop are authorized by CARB. Beyond following state regulations regarding diesel filters, truck owners must also install engines from 2010 or later in their entire fleet by 2023 to adhere to California’s Truck and Bus Regulation.