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Order HereUK-based gas and oil company BP announced a strategic partnership between its BP Ventures and Air BP businesses with Fulcrum, California-based producer of low-carbon jet fuel Fulcrum BioEnergy. According to this deal, BP will invest $30 million.
The two BP divisions—aviation fuel provider Air BP and investment arm BP Ventures—will create what they describe as a strategic partnership with Fulcrum Bio-Energy, which produces sustainable bio-jet from municipal solid waste.
Deal BP Ventures and Air BP businesses with Fulcrum
According to media reports, BP has secured a 10-year offtake agreement with Fulcrum for 50 million gallons (189.27 million liters) per year, from their plants under development across North America.
As a preferred supply chain partner, Air BP will also distribute and supply biofuel into aircraft at key hubs across North America.
Fulcrum has developed and demonstrated a reliable and efficient process for producing low-cost, sustainable biojet from municipal solid waste (MSW).
Fulcrum 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 with growth potential around the world. Fulcrum’s first plant is currently under construction.
James Mecias, president and CEO of Fulcrum and David Gilmour, Vice President Technology, Commercialisation and Ventures at BP’s Ventures signed the deal.
”We have a deep understanding of our customers’ challenges to achieve their lower carbon goals, Air BP CEO Jon Platt said.
“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,” Added Platt.
Welcoming the investment, Fulcrum BioEnergy president and CEO E. James Macias said: “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.”
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,Jon PlattCEO Air BP
Air BP’s strategic customers such as Hong-Kong’s Cathay Pacific Airways and United Airlines have also supported the initiative.
“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,” added Macias.
With support from two of Air BP’s strategic customers, Cathay Pacific Airways and United Airlines, Fulcrum is well advanced in its goal to produce and supply scalable biojet, and BP is excited by the opportunities that this partnership offers.Jon PlattCEO Air BP
“BP is committed to supporting a transition to a lower carbon economy,” said Tufan Erginbilgic, CEO of BP’s downstream segment.
“With support from two of Air BP’s strategic customers, Cathay Pacific Airways and United Airlines, Fulcrum is well advanced in its goal to produce and supply scalable biojet, and BP is excited by the opportunities that this partnership offers.”
Air BP Emirates
As the aviation division of BP, Air BP is one of the world’s largest suppliers of aviation fuel products and services. It currently supplies over seven billion gallons of jet kerosene and aviation gasoline to its customers across the globe each year. Through its direct operations, Air BP fuels more than 6,000 flights every day – that is over four aircraft every minute or one every 15 seconds. Air BP supplies fuel at more than 800 locations in over 50 countries serving customers from private pilots to some of the world’s largest airlines.
http://www.bp.com/venturing
BP Ventures identifies and makes strategic investments in private, high growth, game-changing technology companies, accelerating cutting edge innovations across the entire energy spectrum. The Investment portfolio is primarily focused on emerging technologies in oil and gas exploration and production and downstream conversion processes. BP Ventures also partners with entrepreneurial companies specializing in biotech, water, advanced materials, and digital technology.
http://www.bp.com/venturing
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
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Order HereUK-based gas and oil company BP announced a strategic partnership between its BP Ventures and Air BP businesses with Fulcrum, California-based producer of low-carbon jet fuel Fulcrum BioEnergy. According to this deal, BP will invest $30 million.
The two BP divisions—aviation fuel provider Air BP and investment arm BP Ventures—will create what they describe as a strategic partnership with Fulcrum Bio-Energy, which produces sustainable bio-jet from municipal solid waste.
Deal BP Ventures and Air BP businesses with Fulcrum
According to media reports, BP has secured a 10-year offtake agreement with Fulcrum for 50 million gallons (189.27 million liters) per year, from their plants under development across North America.
As a preferred supply chain partner, Air BP will also distribute and supply biofuel into aircraft at key hubs across North America.
Fulcrum has developed and demonstrated a reliable and efficient process for producing low-cost, sustainable biojet from municipal solid waste (MSW).
Fulcrum 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 with growth potential around the world. Fulcrum’s first plant is currently under construction.
James Mecias, president and CEO of Fulcrum and David Gilmour, Vice President Technology, Commercialisation and Ventures at BP’s Ventures signed the deal.
”We have a deep understanding of our customers’ challenges to achieve their lower carbon goals, Air BP CEO Jon Platt said.
“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,” Added Platt.
Welcoming the investment, Fulcrum BioEnergy president and CEO E. James Macias said: “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.”
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,Jon PlattCEO Air BP
Air BP’s strategic customers such as Hong-Kong’s Cathay Pacific Airways and United Airlines have also supported the initiative.
“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,” added Macias.
With support from two of Air BP’s strategic customers, Cathay Pacific Airways and United Airlines, Fulcrum is well advanced in its goal to produce and supply scalable biojet, and BP is excited by the opportunities that this partnership offers.Jon PlattCEO Air BP
“BP is committed to supporting a transition to a lower carbon economy,” said Tufan Erginbilgic, CEO of BP’s downstream segment.
“With support from two of Air BP’s strategic customers, Cathay Pacific Airways and United Airlines, Fulcrum is well advanced in its goal to produce and supply scalable biojet, and BP is excited by the opportunities that this partnership offers.”
Air BP Emirates
As the aviation division of BP, Air BP is one of the world’s largest suppliers of aviation fuel products and services. It currently supplies over seven billion gallons of jet kerosene and aviation gasoline to its customers across the globe each year. Through its direct operations, Air BP fuels more than 6,000 flights every day – that is over four aircraft every minute or one every 15 seconds. Air BP supplies fuel at more than 800 locations in over 50 countries serving customers from private pilots to some of the world’s largest airlines.
http://www.bp.com/venturing
BP Ventures identifies and makes strategic investments in private, high growth, game-changing technology companies, accelerating cutting edge innovations across the entire energy spectrum. The Investment portfolio is primarily focused on emerging technologies in oil and gas exploration and production and downstream conversion processes. BP Ventures also partners with entrepreneurial companies specializing in biotech, water, advanced materials, and digital technology.
http://www.bp.com/venturing
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
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Order HereUK-based gas and oil company BP announced a strategic partnership between its BP Ventures and Air BP businesses with Fulcrum, California-based producer of low-carbon jet fuel Fulcrum BioEnergy. According to this deal, BP will invest $30 million.
The two BP divisions—aviation fuel provider Air BP and investment arm BP Ventures—will create what they describe as a strategic partnership with Fulcrum Bio-Energy, which produces sustainable bio-jet from municipal solid waste.
Deal BP Ventures and Air BP businesses with Fulcrum
According to media reports, BP has secured a 10-year offtake agreement with Fulcrum for 50 million gallons (189.27 million liters) per year, from their plants under development across North America.
As a preferred supply chain partner, Air BP will also distribute and supply biofuel into aircraft at key hubs across North America.
Fulcrum has developed and demonstrated a reliable and efficient process for producing low-cost, sustainable biojet from municipal solid waste (MSW).
Fulcrum 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 with growth potential around the world. Fulcrum’s first plant is currently under construction.
James Mecias, president and CEO of Fulcrum and David Gilmour, Vice President Technology, Commercialisation and Ventures at BP’s Ventures signed the deal.
”We have a deep understanding of our customers’ challenges to achieve their lower carbon goals, Air BP CEO Jon Platt said.
“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,” Added Platt.
Welcoming the investment, Fulcrum BioEnergy president and CEO E. James Macias said: “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.”
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,Jon PlattCEO Air BP
Air BP’s strategic customers such as Hong-Kong’s Cathay Pacific Airways and United Airlines have also supported the initiative.
“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,” added Macias.
With support from two of Air BP’s strategic customers, Cathay Pacific Airways and United Airlines, Fulcrum is well advanced in its goal to produce and supply scalable biojet, and BP is excited by the opportunities that this partnership offers.Jon PlattCEO Air BP
“BP is committed to supporting a transition to a lower carbon economy,” said Tufan Erginbilgic, CEO of BP’s downstream segment.
“With support from two of Air BP’s strategic customers, Cathay Pacific Airways and United Airlines, Fulcrum is well advanced in its goal to produce and supply scalable biojet, and BP is excited by the opportunities that this partnership offers.”
Air BP Emirates
As the aviation division of BP, Air BP is one of the world’s largest suppliers of aviation fuel products and services. It currently supplies over seven billion gallons of jet kerosene and aviation gasoline to its customers across the globe each year. Through its direct operations, Air BP fuels more than 6,000 flights every day – that is over four aircraft every minute or one every 15 seconds. Air BP supplies fuel at more than 800 locations in over 50 countries serving customers from private pilots to some of the world’s largest airlines.
http://www.bp.com/venturing
BP Ventures identifies and makes strategic investments in private, high growth, game-changing technology companies, accelerating cutting edge innovations across the entire energy spectrum. The Investment portfolio is primarily focused on emerging technologies in oil and gas exploration and production and downstream conversion processes. BP Ventures also partners with entrepreneurial companies specializing in biotech, water, advanced materials, and digital technology.
http://www.bp.com/venturing
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.