​​bp and Nuseed sign 10 year deal on sustainable biofuel production

bp products North America Inc has entered into a long-term strategic agreement with plant-based solutions provider Nuseed for purchase of its non-crop carinata oil, a feedstock for sustainable biofuels production, the company said in a statement.

The strategic offtake and market development agreement will see bp or its affiliates purchase Nuseed’s carinata oil to process or sell into growing markets for the production of sustainable biofuels, bp said. The non-food cover crop can be used to produce low-carbon biofuel feedstock that is independently certified, sustainable and scalable, it said.

“Sustainable biofuels have a vital role to play in decarbonizing transport,” Carol Howle, executive vice president, trading & shipping at bp, said in a statement.

“By working with Nuseed, we can use their sustainable feedstock to help decarbonise challenging transportation sectors such as aviation, supporting the production of sustainable aviation fuel (SAF) and other biofuels,” she said.

Increased global demand for biofuels is being driven by the need to access sustainable sources of energy to help achieve global greenhouse gas reduction targets, bp said.

“Nuseed Carinata demonstrates how agriculture and energy companies can work together to meet demand for biofuels that lower lifecycle carbon emissions,” Nuseed Group Executive Brent Zacharias said in the statement.