Fulcrum BioEnergy is a pioneer in the development and production of low carbon jet fuel, in which BP is set to invest US$30m. As an equity investor, BP has secured a ten year offtake agreement with Fulcrum for 50m gallons per year, from their plants currently under development across the US. In addition, as a preferred supply chain partner, Air BP will distribute and supply biojet into aircraft at key hubs across the US.
”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,” commented Jon Platt, CEO, Air BP. “Securing this supply helps secure the future competitiveness of Air BP, and our place as a leader in the industry.”
“We’re excited to be entering into this multi-faceted strategic relationship with BP, a recognised leader in the supply of fuel products and services to the global aviation industry,” added E. James Macias, Fulcrum’s President and Chief Executive Officer. “This partnership will accelerate Fulcrum’s ability to produce and deliver low carbon, low cost jet fuel from Fulcrum plants located across North America to our commercial and military aviation customers.”
Fulcrum has developed and demonstrated a reliable and efficient process for producing low cost, sustainable biojet from municipal solid waste. The company has secured long-term access to large volumes of such feedstock and is actively developing its plan to build waste-to-fuel plants in the US initially, with international growth potential. Fulcrum’s first plant is currently under construction.
