US renewable energy company PetroAlgae has announced it has entered into a non-binding offtake supply agreement with Chilean airline provider, Sky Airline.
The two companies have agreed to collaborate to enable Sky Airline to purchase the fuel feedstock produced by licensees of PetroAlgae’s technology as a feedstock for conversion into renewable jet fuel.
PetroAlgae currently licenses and deploys the leading biomass production platform to address existing and growing unmet needs in the global energy and agriculture markets. Its proprietary technology, consisting of light and environmental management systems, allows its customer licensees to grow aquatic microorganisms at a rate that consistently exceeds four times the natural growth rates. This enables the commercial-scale production of two end-products: a fuel feedstock and a protein. The fuel feedstock is intended to be used principally in existing refineries, resulting in renewable fuels, including renewable jet fuel.
“We are excited to be working with PetroAlgae to bring green jet fuel to Chile,” says Holger Paulmann, director of Sky Airline. “Our airline has always prided itself on being at the forefront of change that is good for our customers, the economy, and the country. With PetroAlgae’s commercial-scale biomass from micro-crops, we hope to develop clean renewable jet fuel in existing refineries, which will reduce our reliance on fossil fuels and create green jobs in the process.”