TotalEnergies (TTE) Partners with SARIA to Produce Sustainable Aviation Fuels
Get Alerts TTE Hot Sheet
Join SI Premium – FREE
TotalEnergies (NYSE: TTE) and SARIA, a leader on the European market for the collection and valorization of organic materials into sustainable products, have concluded an agreement to develop sustainable aviation fuel (SAF) production on the Grandpuits (Seine-et-Marne) zero-crude platform.
This agreement is a major step in securing feedstock supply (used cooking oils and animal fats) eligible to produce SAF and will enable the SAF production capacity to reach 210,000 tons per year, 25% higher than foreseen in the initial project announced in 2020.
Under this agreement, TotalEnergies will take 50% of a production activity of SARIA, that will supply animal fat esters to Grandpuits. SARIA will take an equivalent stake in the biofuels business of the Grandpuits biorefinery, which will remain operated by TotalEnergies. SARIA will also directly supply used cooking oils.
“I am delighted to conclude this strategic partnership with SARIA, which reinforces the conversion of the Grandpuits refinery into a zero-crude platform oriented towards SAF. This is a major milestone in our ambition to become one of the leaders in sustainable aviation fuels,” declared Bernard Pinatel, President, Refining & Chemicals at TotalEnergies. “SAF is the most efficient solution to immediately reduce CO2 emissions from air travel, and its development is fully in line with the Company’s Climate ambition to get to net zero by 2050, together with society.”
The project is subject to the legal process for notifying and consulting TotalEnergies’ employee representatives and the approval of the competent authorities.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- TotalEnergies (TTE) to Acquire Remaining 50% Stake of SapuraOMV for $530M
- Netflix's subscribers, TSMC, Tesla upside - what's moving markets
- Renault posts revenue beat in Q1, confirms full-year outlook
Create E-mail Alert Related Categories
Corporate NewsRelated Entities
Twitter, Crude Oil, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!