United Airlines invests in West Coast biorefinary developer NEXT

United Airlines Holdings Inc (NASDAQ:UAL) is making a strategic investment in NEXT Renewable Fuels Inc, becoming the first US airline to invest in a biofuel refinery, it said this week.

Depending on milestone targets, the US carrier could put up to USD 37.5 million (EUR 36.3m) into NEXT, which is developing a refinery in Port Westward, Oregon that could produce up to 50,000 barrels per day of sustainable aviation fuel (SAF), renewable diesel and other renewable fuels. The project is currently in the permitting stage and is anticipated to start production in 2026.

The future biorefinery benefits from access to a deep-water port and multi-modal logistics and has an agreement in place with BP for sourcing all of its feedstock.

United Airline Ventures president Michael Leskinen commented that the NEXT's strategic location and assets solve a key challenge for increasing supply and cutting costs of sustainable fuel, namely transport infrastructure, and “provide a blueprint for future facilities that need to be built.”

(USD 1 = EUR 0.969)

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