Argentina’s YPF to invest $400 million in sustainable jet fuel venture
BUENOS AIRES, Aug 8 (Reuters) – Argentine state oil firm YPF (YPFDm.BA), will invest around $400 million as part of a new joint venture to produce and sell sustainable aviation fuel (SAF), it said on Friday.
The new venture, to be called Santa Fe Bio, will be run in tandem with Essential Energy and operate out of YPF’s San Lorenzo refinery.
YPF said the plant’s location in San Lorenzo, a port city, was ideal for selling SAF abroad as demand from airlines grows.
SAF is seen as key to reaching the net-zero carbon emissions commitments of airlines, which are heavy polluters. But the fuel, which is made from waste products such as used cooking oils and crop residues, remains in short supply, particularly in Latin America.
Reporting by Walter Bianchi; Writing by Kylie Madry; Editing by Brendan O’Boyle and Paul Simao
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Argentina’s YPF to invest $400 million in sustainable jet fuel venture, source
