Exxon Deepens in Biofuels

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Exxon Mobil is expanding its foothold into advanced biofuels by acquiring a stake in Norwegian biofuels company Biojet AS. The US major will take a 49.9% stake in the firm, which plans to develop up to five facilities that produce biofuels and biofuel components from wood-based construction and forestry waste. Exxon has also signed an offtake agreement for up to 3 million barrels per year (8,220 barrels per day) of biofuel products, provided all five facilities are built.

Biofuels (incl. SAF), Emerging Technologies, Corporate Strategy
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