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16-Nov-2022 2:12 PM

United Airlines Ventures announces strategic investment of up to USD37.5m in biofuel refinery

United Airlines Ventures (UAV) announced (15-Nov-2022) a strategic investment of up to USD37.5 million in NEXT Renewable Fuels, permitting a flagship biofuel refinery in Port Westward (Oregon) which is expected to begin production in 2026. The facility will provide a strategic location and assets to distribute biofuels across the US west coast, producing up to 50,000 barrels of sustainable aviation fuel (SAF), renewable diesel and other renewable fuels daily. UAV president Michael Leskinen stated: "One of the biggest barriers to increasing supply and lowering costs of sustainable fuel is that we don't have the infrastructure in place to transport it efficiently, but NEXT's strategic location and assets solve that problem and provide a blueprint for future facilities that need to be built". The investment represents UAV's fifth SAF related technology investment and its first directly in a biorefinery. [more - original PR]

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