Corteva Inc. and bp have announced a collaboration to form a joint venture (JV) to produce and deliver crop-based biofuel feedstocks for sustainable aviation fuel (SAF). The JV aims to meet the growing demand for SAF, with a mandate in the EU requiring at least 20% SAF by 2035 and 70% by 2050. Corteva will contract with farmers in North and South America, and Europe, to grow proprietary crops such as mustard seed, sunflower, and canola, which are well-suited for SAF production. The JV plans to introduce new cropping systems to produce oil that meets EU RED III criteria and qualifies for US Low Carbon Intensity policy incentives. The companies anticipate finalizing definitive agreements in 2025 with a target operational date later in the year. This partnership is expected to create a new revenue stream for farmers and help the European airline industry become more sustainable.

Source: https://www.prnewswire.com/news-releases/corteva-announces-intent-to-partner-with-bp-to-develop-low-carbon-intensity-bio-feedstock-for-aviation-fuel-production-302307748.html