Cathay Pacific to explore biofuel use

admin
By admin August 8, 2014 13:43

Cathay Pacific to explore biofuel use

Cathay Pacific Airways has announced that it will invest in US based alternative fuels developer Fulcrum BioEnergy.

Cathay has also entered into a long-term supply agreement with Fulcrum that will see it initially take 375 million US gallons of biofuel over 10 years.

Cathay Pacific CEO Ivan Chu said: “We are pleased to have identified Fulcrum as a strategic business partner that has the necessary vision and technological know-how to help Cathay Pacific pursue the use of biojet fuels.

These fuels are an important component of our sustainable development strategy, under which we aim to achieve carbon-neutral growth from 2020.”

The airline did not disclose the size of the transaction, nor the stake that it will hold in Fulcrum.

admin
By admin August 8, 2014 13:43