|8 November 2016|
The $30 million investment by BP is designed to give its Air BP business – one of the world’s largest suppliers of aviation fuel products and services – guaranteed access to Fulcrum BioEnergy’s product for the next decade.
Fulcrum converts municipal solid waste (MSW) into biofuels and will use the investment to progress its plans to build waste-to-fuel plants in North America and, longer term, globally. Its first plant is already under construction.
“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,” said 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.”
E.James Macias, Fulcrum’s President and Chief Executive Officer, added: “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. 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.”