A by-product of the transesterification process is the production of glycerol. For every 1 tonne of biodiesel that is manufactured, 100 kg of glycerol are produced. Originally, there was a valuable market for the glycerol, which assisted the economics of the process as a whole. However, with the increase in global biodiesel production, the market price for this crude glycerol (containing 20% water and catalyst residues) has crashed. Research is being conducted globally to use this glycerol as a chemical building block (see chemical intermediate under Wikipedia article "Glycerol"). One initiative in the UK is The Glycerol Challenge.