BP has revealed the creation of a strategic partnership between its BP Ventures and Air BP businesses with Fulcrum BioEnergy in a $30million invest plan.
The oil major has secured a 10-year offtake agreement with the firm for 50million US gallons from their plants under development across North America.
In addition, Air BP will distribute and supply biojet into aircraft at key hubs across North America.
Chief executive of Air BP, Jon Platt, said: “We have a deep understanding of our customers’ challenges to achieve their lower carbon goals. This agreement gives Air BP guaranteed access to product which will help meet these challenges.
“Securing this supply helps secure the future competitiveness of Air BP, and our place as a leader in the industry.”
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