Microsoft invests $ 50 million in jet fuel alcohol biorefinery

0

A Microsoft logo is seen in Los Angeles, California, U.S., November 7, 2017. REUTERS/Lucy Nicholson//File Photo

Join now for FREE unlimited access to Reuters.com

Register

Jan 13 (Reuters) – Microsoft (MSFT.O) is investing $50 million in a LanzaJet plant in Georgia that will produce jet fuel from ethanol next year, LanzaJet said.

The airline industry is considered one of the most difficult to decarbonize. Renewable aviation fuel accounted for less than 0.1% of the current global demand for jet fuel of around 330 million tonnes in 2019, investment bank Jefferies said last year. Governments and investors are trying to stimulate incentives to produce low carbon jet fuel.

Chicago-based LanzaJet said it has nearly completed on-site engineering of its Freedom Pines fuels biorefinery, with plans to begin producing 10 million gallons of sustainable aviation fuel (SAF) and renewable diesel per year. from sustainable ethanol, including from waste. based on raw materials, in 2023.

Join now for FREE unlimited access to Reuters.com

Register

Oil majors, airlines and other oil trading companies, including Suncor Energy Inc., British Airways and Shell, also finance the company.

The White House said last year it wants to cut aviation emissions by 20% by 2030, as airlines face pressure from environmental groups to reduce their carbon footprint.

The Biden administration has touted tax credits for sustainable jet fuel production as part of its Build Back Better legislation, which is currently blocked in Congress. Read more

The European Union aims to increase the amount of SAF mixed in jet fuel to 63% by 2050.

Microsoft established the Climate Innovation Fund in 2020 to invest $1 billion over the next four years to accelerate the development of carbon removal technology.

(This story corrects biorefinery name in 4th paragraph of Freedom Pines Fuels)

Join now for FREE unlimited access to Reuters.com

Register

Reporting by Laura Sanicola; Editing by David Gregorio

Our standards: The Thomson Reuters Trust Principles.

Share.

About Author

Comments are closed.