Corteva Announces Intent to Partner with bp
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Corteva Announces Intent to Partner with bp to Develop Low Carbon Intensity Bio-Feedstock

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Corteva Announces Intent to Partner with bp to Develop Low Carbon Intensity Bio-Feedstock

Indianapolis, Ind., (November 18, 2024) – Corteva Inc. (NYSE: CTVA) announced today a collaboration with bp (NYSE: BP, LSE: BP.L) on the companies’ shared intent to form a crop-based biofuel feedstock joint venture (JV).

The JV envisaged by Corteva and bp would produce and deliver crop-based biofuel feedstocks to help meet the anticipated growth in demand for ‘sustainable aviation fuel’ (SAF).

A number of countries around the world have, or are in the process of implementing, mandates or tax incentives to promote the decarbonization of the aviation sector.  In the EU a SAF mandate begins in 2025 that will require fuel uplift at EU airports to contain at least 20% SAF by 2035 and 70% by 2050.

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Originally published by Corteva Agriscience November 2024.

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