Reportedly, Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (CVX), and Gevo, Inc announced a letter of intent to jointly invest in building and operating one or more new facilities that would process inedible corn to produce sustainable aviation fuel, lowering the lifecycle of the carbon intensity of fuels used in the aviation industry. The facilities will also produce proteins and corn oil.
Under the collaboration, Gevo would operate its proprietary technology to produce sustainable aviation fuel (SAF) and renewable blending components for motor gasoline to lower its lifecycle carbon intensity. Chevron would have the right to take 150 million gallons approximately per year to market to customers.
Dow 30 component Chevron Corporation (CVX), through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. To learn more about Chevron (CVX) and to track their progress please visit the Vista Partners Chevron Page.
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