Alaska Airlines, Gevo Ink Sustainable Aviation Fuel Agreement

Biofuel company Gevo, Inc. GEVO has entered a new fuel sales agreement with Alaska Airlines Group Inc 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.