WasteFuel
Assembly Line
♻️ bp expands investment in bioenergy, collaborating with US biofuels developer WasteFuel
bp invests $10 million in WasteFuel, which is planning to develop a global network of plants to convert municipal and agricultural waste into bio-methanol, a biofuel which could play a significant role in decarbonizing hard-to-abate sectors like shipping. The investment allows WasteFuel to advance its plans to develop its first waste-to-bio-methanol plant in the UAE.
bp and WasteFuel have entered a memorandum of understanding for bp to offtake the produced bio-methanol and for the companies to collaborate on improving bio-methanol production yields & economics.