Air BP and BP Ventures announce investment of US$30m in biojet producer, Fulcrum

BP announced the creation of a strategic partnership between its BP Ventures and Air BP businesses with Fulcrum BioEnergy, a pioneer in the development and production of low-carbon jet fuel, in which BP will invest US$30m. As an equity investor, BP has secured a 10 year offtake agreement with Fulcrum for 50 million US gallons per year, 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. Fulcrum has developed and demonstrated a reliable and efficient 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. Fulcrum’s first plant is currently under construction.