Boeing Co (NYSE:BA) has decided to buy 9.4 million gallons (35.6 million liters) of blended sustainable aviation fuel (SAF) to support its 2024 U.S. commercial operations.
This is the company’s largest annual SAF purchase, more than 60% higher than its buy in 2023.
SAF is made of 30% waste by-products such as fats, oils, and greases and 70% conventional jet fuel.
The decision is expected to support the Boeing ecoDemonstrator program and Boeing U.S. commercial operational flights.
Unblended, or neat SAF, can reduce carbon emissions up to 85% over the fuel’s life cycle.
Boeing will also purchase the CO2 emissions reduction associated with 5.4 million gallons of blended SAF through an accounting process called book-and-claim.
Boeing will receive 4 million gallons of the blended SAF into its fuel farms in the Pacific Northwest.
EPIC Fuels will provide 2.5 million gallons from Neste, and Avfuel will provide 1.5 million gallons of blended SAF from Neste.
Also Read: Boeing Severs Ties With Lobbying Firm Involved In 737 Max Crisis Management: Report
Price Action: BA shares are trading higher by 0.55% at $168.75 on the last check Tuesday.
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