- Biofuel company Gevo, Inc. GEVO has entered a new fuel sales agreement with Alaska Airlines Group Inc ALK.
- Alaska Airlines is set to offtake 185 million gallons of sustainable aviation fuel from Gevo over five years, beginning in 2026.
- The agreement allows Alaska Airlines to purchase 37 million gallons per year of sustainable aviation fuel (SAF) for five years.
- Alaska Airlines is a member of oneworld global alliance, and this agreement falls under the purview of an MoU that the parties signed in March 2022.
- Also Read: Gevo Inks Sustainable Aviation Fuel Pact With American Airlines
- To make renewable jet fuel, Gevo utilizes waste starch (or sugars) from field corn that has been utilized in the production of high-protein animal feed. These non-edible waste products are fermented into alcohol and then chemically converted to a renewable jet fuel through proprietary processes.
- Price Action: ALK shares are trading higher by 3.98% at $46.27 and GEVO lower by 1.14% at $3.03 on the last check Wednesday.
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