Key Takeaways
- Corteva Inc. and bp have signed a non-binding memorandum of understanding to form a joint venture (JV) focused on producing biofuel feedstocks for sustainable aviation fuel (SAF).
- The JV plans to scale production to deliver one million metric tons per year of SAF feedstocks by the mid-2030s.
- Corteva will contract with farmers in North America, South America, and Europe to grow proprietary mustard seed, sunflower, and canola feedstocks suited for SAF production.
- The collaboration aligns with global SAF mandates, such as the EU requirement for 20% SAF content in aviation fuel by 2035, rising to 70% by 2050.
- Definitive agreements are expected to be finalized in 2025, with operations targeted to begin later that year.
Addressing Growing Demand for Sustainable Aviation Fuel
Corteva and bp announced their shared intent to form a joint venture aimed at producing biofuel feedstocks to meet increasing global demand for SAF. With aviation sector decarbonization becoming a focus of government mandates and incentives, the proposed JV aims to contribute to achieving these sustainability goals.
The EU, for example, has mandated a minimum of 20% SAF content in aviation fuel by 2035, with the target rising to 70% by 2050. Similar incentives are emerging globally, creating opportunities for scaling SAF feedstock production.
Leveraging Agricultural and Energy Expertise
Under the collaboration, Corteva plans to work with farmers across the Americas and Europe to grow proprietary crops such as mustard seed, sunflower, and canola. These crops are designed to meet sustainability criteria under EU RED III standards and qualify for U.S. low-carbon intensity policy incentives. The initiative also introduces new cropping systems to generate revenue for farmers while supporting sustainable practices.
Brook Cunningham, Corteva’s Chief Strategy Officer, commented: “This partnership shows that agriculture can play a vital role in addressing global decarbonization goals. By leveraging Corteva’s technology, scale, and grower relationships, we look forward to supporting the European airline industry while offering farmers new income streams.”
bp will contribute its expertise in refining and trading to optimize the supply chain for SAF production.
Emma Delaney, bp’s executive vice president for customers & products, stated: “We see significant potential in partnering with Corteva. Together, we are positioned to create value by combining Corteva’s agricultural innovations with bp’s refining capabilities.”
Path to Commercialization
The JV envisions progressively scaling up feedstock production, with the goal of delivering one million metric tons annually of biofuel feedstocks by the mid-2030s. This feedstock will support SAF production at bp’s facilities, with plans to finalize agreements by 2025 and begin operations later that year.
Potential Benefits
- For Aviation: The initiative supports the aviation industry’s shift toward SAF, aiding compliance with decarbonization mandates.
- For Farmers: The program offers farmers additional revenue streams by introducing new crops tailored for biofuel production.
- For Sustainability: The collaboration aligns with global efforts to reduce emissions, leveraging low-carbon intensity feedstocks and sustainable farming practices.
