Industry News from Yes Insurance

Business mogul Sir Richard Branson has thrown his weight behind biofuels as the definitive fuel for the future. He recently switched to the new Saab 9.5 Bio-Power and told General Motors: "I am convinced that biofuels are the way forward."

Sir Richard is keen to put his money where his mouth is, having recently announced that all profits and equity realisations over the next ten years from the group's worldwide transport companies, including Virgin Atlantic and Virgin Trains in the UK, would be invested in the renewable energy sector.

Green fuel has been growing in popularity, not least because of the money saving advantages it can provide, with many car insurance companies offering incentives for eco-friendly driving and London's congestion charge being lowered for green motors.

Now Sir Richard wants the same rules applied to bio-fuel powered vehicles. "It's high-time that flex-fuel cars, such as the Saab 9-5 BioPower, are given the same concessions in the UK as other green cars," he stated.

"At the moment, bioethanol is made from a variety of agricultural sources, whilst in the future we will see it made from cellulosic waste matter, such as wood chippings, which really will make it the ultimate green fuel," he explained.