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BP buys jet fuel made from garbage in bid to cut airline pollution

Published 11/08/2016, 03:23 PM
BP buys jet fuel made from garbage in bid to cut airline pollution
BP
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  • BP (LON:BP) (BP +0.2%) says it will invest $30M in Fulcrum BioEnergy, which makes biofuel from garbage, and signs a 10-year deal to buy 500M gallons of biofuel from Fulcrum’s North American plants.
  • BP says the new partnership will help curb airplane pollution, as it plans to distribute the aviation fuel to planes through its Air BP unit, which sells ~7B gallons/year of aviation fuel.
  • Fulcrum says the deal is its fourth major corporate investment, following similar agreements with United Airlines, Waste Management and Cathay Pacific Airways.

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