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Phase 2 2022 - ExxonMobil acquires 49.9% of Biojet

 Last Update: 2022-11-12
 Source: Internet
 Author: User

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ExxonMobil acquires a 49.
9% stake in Biojet

On January 11, ExxonMobil announced that it had agreed to acquire a 49.
9 percent stake in Norwegian biofuels company Biojet, for an undisclosed
amount.

ExxonMobil said Biojet plans to convert forestry and wood-wood construction waste into low-emission biofuels and biofuel assemblies
.
Biojet plans to develop up to five production facilities, with commercial production
expected to begin in 2025 at a plant to be built in Follum, Norway.
Based on the potential capacity of these five facilities, ExxonMobil can purchase up to 3 million barrels of biofuel products
per year.

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