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Alaska Airlines, Gevo Ink Sustainable Aviation Fuel Agreement

  • Biofuel company Gevo, Inc. (NASDAQ: GEVO) has entered a new fuel sales agreement with Alaska Airlines Group Inc (NYSE: ALK).

  • Alaska Airlines is set to offtake 185 million gallons of sustainable aviation fuel from Gevo over five years, beginning in 2026.

  • The agreement allows Alaska Airlines to purchase 37 million gallons per year of sustainable aviation fuel (SAF) for five years.

  • Alaska Airlines is a member of oneworld global alliance, and this agreement falls under the purview of an MoU that the parties signed in March 2022.

  • Also Read: Gevo Inks Sustainable Aviation Fuel Pact With American Airlines

  • To make renewable jet fuel, Gevo utilizes waste starch (or sugars) from field corn that has been utilized in the production of high-protein animal feed. These non-edible waste products are fermented into alcohol and then chemically converted to a renewable jet fuel through proprietary processes.

  • Price Action: ALK shares are trading higher by 3.98% at $46.27 and GEVO lower by 1.14% at $3.03 on the last check Wednesday.

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