(Replaces the biorefinery in paragraph 4 with Freedom Pines Fuels)
() -Microsoft is investing $ 50 million next year at the LanzaJet plant in Georgia, which will produce jet fuel from ethanol, LanzaJet said.
The airline industry is one of the most difficult areas to decontaminate. Jefferies Investment Bank reported last year that renewable jet fuel accounted for less than 0.1 percent of current global jet fuel demand in 2019, nearly 330 million tonnes. Governments and investors are trying to increase incentives for low-carbon jet fuel production.
The Chicago-based LanzaJet said it has almost completed engineering work at its Freedom Pines Fuels Biorefinery plant and plans to start producing 10 million gallons a year of sustainable aviation fuel (SAF) and renewable diesel from sustainable ethanol, including waste. based raw materials, in 2023.
Oil companies, airlines and other oil trading companies, including Suncor Energy Inc., British Airways and Shell, are also financing the company.
The White House said last year it wanted to reduce aviation emissions by 20 percent by 2030 as airlines face pressure from environmental groups to reduce carbon footprints.
The Biden administration has announced tax breaks for the production of sustainable jet fuel as part of the Build Back Better legislation, which is currently stalled in Congress.
The European Union aims to increase the SAF content of petroleum jet fuel by 63% by 2050.
Microsoft has created the Climate Innovation Fund in 2020 to invest $ 1 billion over the next four years to accelerate the development of carbon removal technology.
Interview by Laura Sanikola; Edited by David Gregorio