bp investing $48.5M in Chinese SAF producing after pulling back in Europe

In China, Platts reports bp is investing $48.5 million in renewable diesel and sustainable aviation fuel producer Lianyungang Jiaao New Energy, securing it 15% of the company, ahead of the expected SAF mandates that are likely to be announced soon in the country. Currently the company’s parent, Jiaao Enprotech, has 100,000 metric tons of SAF production capacity installed. bp has been pulling back on SAF investments in Europe due to supply issues there but will continue to invest in Brazil and Asia.