TotalEnergies, Saudi Aramco JV Converts Used Cooking Oil to Sustainable Aviation Fuel
TotalEnergies and Saudi Arabian Oil Saudi Aramco’s, joint venture successfully converted used cooking oil into sustainable aviation fuel.
The SATORP JV has received International Sustainability and Carbon Certification to produce sustainable aviation fuel after it met all product quality parameters, according to a Monday filing.
The fuel produced through used cooking oil reduces carbon dioxide emissions by at least 80% on average through the entire lifecycle, compared with equivalent fossil fuel.
Elsewhere, corporate venturing unit Aramco Ventures led a $10 million series A funding round for Asian renewable energy certificates trading platform REDEX.
The new funding was provided by investors from various regions including the Middle East, Southeast Asia and Japan, and will be used by REDEX to expand beyond Asia and further streamline and digitize the trading of renewable energy certificates, according to a Tuesday release. Naira Devaluation Deepens Economic Crisis in Nigeria