USA: Strategic Partnership Between BP and Fulcrum Waste to Jet Fuel
BP announced the creation of a strategic partnership between its BP Ventures and Air BP businesses with Fulcrum Bioenergy, a developer of low-carbon jet fuel, in which the British company will invest $ 30 million.
Pleasanton/USA — As an equity investor, BP has secured a ten year offtake agreement with Fulcrum for 50 million US gallons per year (approx. 190 million liters) from their plants under development across North America. In addition, as a preferred supply chain partner, Air BP will distribute and supply biojet into aircraft at key hubs across North America. “Securing this supply helps secure the future competitiveness of Air BP, and our place as a leader in the industry,” said Jon Platt, CEO, Air BP.
“We’re excited to be entering into this multi-faceted strategic relationship with BP, a recognized leader in the supply of fuel products and services to the global aviation industry,” adds 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,” added Macias.
Fulcrum has developed and demonstrated a process for producing low-cost, sustainable biojet from municipal solid waste (MSW). The company has secured long-term access to large volumes of MSW feedstock and is actively developing its plan to build waste-to-fuel plants in North America, initially, with growth potential around the world. The developer expects to start developing its first plant in 2017.