Corteva Announces Intent to Partner with bp to Develop Low Carbon Intensity Bio-Feedstock for Aviation Fuel Production

Core Insights - Corteva Inc. and bp announced a collaboration to form a joint venture focused on producing crop-based biofuel feedstocks to meet the growing demand for sustainable aviation fuel (SAF) [1][3] - The joint venture aims to deliver one million metric tons per year of biofuel feedstocks for SAF production by the mid-2030s [3] - The partnership is positioned to leverage Corteva's agricultural technology and bp's refining capabilities to support the decarbonization of the aviation sector [5][6] Company and Industry Overview - Corteva plans to contract with farmers in North and South America and Europe to grow proprietary crops such as mustard seed, sunflower, and canola, which are suitable for SAF production [4] - The joint venture will introduce new cropping systems that meet EU RED III criteria and qualify for US Low Carbon Intensity policy incentives, creating new revenue streams for farmers [4] - The European Union is implementing a SAF mandate that requires at least 20% SAF in fuel uplift at EU airports by 2035 and 70% by 2050, indicating a significant market opportunity for biofuel feedstocks [2]