• Corteva and bp launch Etlas, a joint venture for biofuel feedstock production
INDIANAPOLIS and LONDON – Energy company bp and agricultural science firm Corteva Inc. announced on January 7 the launch of a 50:50 joint venture, Etlas, to produce crop-based oil for biofuels.
The new company will supply feedstock for sustainable aviation fuel (SAF) and renewable diesel (RD).
What is new?
Corteva Inc. and bp have formed a new company, Etlas, to produce and supply feedstocks for the growing biofuel market. The joint venture will use Corteva’s expertise in seed technology to develop specific crops, including canola, mustard, and sunflower, for oil production. bp will contribute its capabilities in refining and marketing fuel for the commercial transportation sector.
Production Goals and Timeline
Etlas aims to produce one million metric tonnes of feedstock annually by the mid-2030s. This volume of feedstock is projected to yield over 800,000 tonnes of biofuel. The joint venture has scheduled its initial supply to begin in 2027, which will be used in co-processing at existing refineries and at dedicated biofuel plants.
Agricultural Approach
The feedstock for Etlas will be derived from crops grown on existing agricultural land during periods between main food cropping seasons. This practice of using “intermediate crops” is intended to utilize land that would otherwise be fallow. The companies state this approach can help improve soil health and provide farmers with a new source of revenue without creating additional demand for land.
Market Context and Leadership
The venture is designed to address a projected increase in global demand for biofuels. Industry estimates cited in the announcement project demand for SAF could grow to as much as 10 million tonnes by 2030, with renewable diesel demand potentially reaching as much as 35 million tonnes in the same timeframe. Ignacio Conti, formerly of Corteva, has been appointed Chief Executive Officer of Etlas. Gaurav Sonar from bp will serve as the Chair of the Board of Directors.
About this company
Corteva Inc. is a global agricultural science company that provides solutions for farmers, specializing in seed technology and crop protection. The company is publicly traded on the New York Stock Exchange under the ticker CTVA.
bp is a British multinational oil and gas company with operations in energy production, refining, and marketing. The company is developing its biofuels business as part of its broader strategy. It is listed on the New York Stock Exchange and the London Stock Exchange.
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