BIOFUELS MARKET ANALYSIS

Market News

Recent Developments

New product launches

• Neste MY Renewable Jet Fuel: Neste, a leading producer of renewable diesel and sustainable aviation fuel, launched Neste MY Renewable Jet Fuel in 2021. The product is produced from 100% renewable waste and residue raw materials, offering a sustainable alternative for the aviation industry.
• Gevo's Net-Zero 1 Project: Gevo, a renewable chemicals and advanced biofuels company, announced its Net-Zero 1 project in 2021. The project aims to produce sustainable aviation fuel (SAF) and renewable gasoline from biomass feedstock using its proprietary technology.
• TotalEnergies' La Mède Biofuel Refinery: In 2020, TotalEnergies (formerly Total) launched the La Mède biorefinery in France. The facility converts 500,000 tons of feedstock, including vegetable oils and used cooking oil, into biofuels, including biodiesel and renewable jet fuel.

Acquisition and partnerships

• As per Exxon Mobil report 2022 ExxonMobil is expanding its interests in biofuels that can help reduce greenhouse gas emissions in the transportation sector, acquiring a 49.9% stake in Biojet AS, a Norwegian biofuels company that plans to convert forestry and wood-based construction waste into lower-emissions biofuels and biofuel components. ExxonMobil is a multinational oil and gas corporation and the largest direct descendant of John D. Rockefeller's Standard Oil. The company is one of the world's largest publicly traded international oil and gas companies, with a market capitalization of $369.07 Bn as of 2022 . ExxonMobil is vertically integrated across the entire oil and gas industry, with operations in exploration, production, refining, and marketing.
• Biojet AS is a Norwegian biofuels company that specializes in converting forestry and wood-based construction waste into sustainable biofuels. The company's goal is to contribute to the green shift by producing sustainable biofuel that can be used in traditional engines and distributed via established infrastructure.
• BP and Bunge Bioenergy: In 2020, BP and Bunge Limited formed a joint venture called BP Bunge Bioenergia. The partnership combines BP's Brazil-based biofuels and biopower businesses with Bunge Limited's sugarcane mills in Brazil, creating one of the world's largest sugarcane ethanol producers. Bunge Limited, a global agribusiness and food company, is incorporated in Geneva, Switzerland, and headquartered in St. Louis, Missouri, United States. The company operates as a holding company, engaging in the supply and transportation of agricultural commodities.
• British Petroleum, is a multinational oil and gas company headquartered in London, United Kingdom. It is one of the world's largest oil and gas companies, with operations in over 70 countries. BP has a long history of operating in the biofuels industry, with a 10-year history of operating a successful biofuels business in Brazil, the world's second-largest and most integrated market for ethanol as a transport fuel .
• Archer Daniels Midland (ADM) and BWCMA: Archer Daniels Midland (ADM) and Brazil-based, Bunge Limited announced a partnership in 2020 to create a joint venture called BWCMA. The joint venture combines the Brazilian and European biodiesel operations of both companies, creating a leading biodiesel producer in Brazil and a significant presence in the European market.
• The Archer-Daniels-Midland Company, commonly known as ADM, is an American multinational food processing and commodities trading corporation founded in 1902 and headquartered in Chicago, Illinois. The company operates more than 270 plants and 420 crop procurement facilities worldwide, where cereal grains and oilseeds are processed into products used in food, beverage, nutraceutical, industrial, and animal feed markets worldwide.
• Bunge Limited, a global agribusiness and food company, is incorporated in Geneva, Switzerland, and headquartered in St. Louis, Missouri, United States. The company operates as a holding company, engaging in the supply and transportation of agricultural commodities.