BP has invested $30 million (£24.20) in a low carbon developer, which makes biofuel from rubbish.
The BP Ventures and Air BP arms of the company have entered a strategic partnership with Fulcrum Bioenergy, agreeing to buy 50 million gallons of biofuel each year for a decade.
In addition, Air BP will distribute and supply the jet-engine biofuel at key airports across the US.
Fulcrum’s biojet fuel, which has already been developed and demonstrated, is said to be low cost, sustainable jet fuel made from municipal waste as it is more commonly known.
The company has secured long term access to large volumes of it to use as feedstock and is now actively developing its plan to build large-scale waste-to-fuel plants.
The company says this will initially happen in the US, before one day supplying major airports all over the world. The first plant is expected to go into development in 2017.
E. James Macias, Fulcrum’s President and CEO, said: “We’re excited to be entering into this multi-faceted strategic relationship with BP, a recognised 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.”
Virgin Atlantic is also currently pursuing its own source of low carbon jet fuel.