BP PLC and Corteva Inc have launched a 50-50 joint venture (JV) that will produce biofuel feedstock from crops.
“Etlas aims to produce one million metric tonnes of feedstock per year by the mid-2030s, which could produce over 800 thousand tonnes of biofuel”, said a joint statement Wednesday. “Initial supply is scheduled to begin in 2027 for use in co-processing at refineries as well as at dedicated biofuels plants”.
“Leading industry estimates have global demand for SAF [sustainable aviation fuel] growing to as much as 10 million tonnes by 2030 from about one million tonnes in 2024, while global demand for RD [renewable diesel] could rise to as much as 35 million tonnes by 2030 from approximately 17 million tonnes in 2024”, the statement noted.
Currently BP produces about 10,000 barrels per day (bpd) of biofuels through co-processing at its refineries, according to the British company. In Brazil, BP has a sugarcane bioethanol production capacity of around 50,000 bpd ethanol equivalent, it says on its website.
Feedstock produced by Etlas would be used to produce biofuels such as sustainable or synthetic aviation fuel and renewable diesel, the statement said. Planned crops include canola, mustard and sunflower, it said.
“The feedstock Etlas uses will be harvested from crops that are grown on existing cropland, between main food cropping seasons”, the statement said. “Such intermediate crops can help improve soil health while providing farmers with a new revenue stream. As they use existing cropland during times when it has previously been unproductive like a fallow or cover period, they also do not lead to additional demand for land”.
“Etlas will harness both Corteva’s century-long expertise in seed technology to develop crops ideally suited to produce SAF and RD as well as BP’s expertise in refining and marketing fuel for the commercial transportation market”, the statement said.
Ignacio Conti, business development director at agriculture company Corteva, said, “As the aviation industry looks for reliable, sustainable and cost-competitive sources of SAF, it is clear farmers have a critical role to play”.
“Etlas brings together global leaders in agriculture innovation and energy production to harness this demand by leveraging technological expertise and trusted relationships with farmers around the world to help scale production and boost supply while offering farmers new revenue streams”, Conti added.
BP senior vice president for biofuels growth Philipp Schoelzel said, “This capital-light joint venture creates optionality in our biofuels value chain, strengthening our position and helping deliver attractive returns”.
To contact the author, email jov.onsat@rigzone.com
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