bp invests in Chinese SAF plant

bp has invested €44.4 million in Zhejiang Jiaao Enprotech’s sustainable aviation fuel (SAF) unit - marking the first alliance in China’s emerging green aviation fuel sector.
The investment grants BP a 15% stake in Lianyungang Jiaao Enproenergy Co, a subsidiary of Jiaao, focused on the development of a major SAF plant in the eastern coastal city of Lianyungang.
The company is building a 500,000-ton-per-year SAF facility in Lianyungang, which is set to be one of the largest of its kind in the region.
The investment from the oil and gas major represents a significant step in advancing SAF capabilities in China.
China is the world's second-largest aviation fuel market, accounting for approximately 11% of global jet fuel consumption. Most of China's biofuel production is currently directed toward exports.
Jiaao is investing heavily in SAF production, utilising waste cooking oil as a feedstock to create lower-carbon aviation fuel.
bp’s investment in Jiaao’s SAF unit aligns with its broader strategy to diversify into lower-carbon energy solutions. The company has been actively investing in green technologies and renewable energy projects worldwide, including recent plans to develop facilities in Spain and Germany that could potentially produce sustainable jet fuel and green hydrogen.
bp’s acquisition of a stake in a Chinese sustainable jet fuel company represents a significant step in its strategy to support the global transition to cleaner energy.