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Hawaiian Airlines (NASDAQ:HA) said Thursday it reached an agreement with Gevo (NASDAQ:GEVO) to purchase 50M gallons of sustainable aviation fuel over five years; financial details were not disclosed.
Gevo (GEVO) said it expects to supply the SAF from a facility to be constructed in the midwestern U.S. and begin deliveries to Hawaiian’s (HA) gateway cities in California starting in 2029.
The biofuel company said it will produce SAF using residual starch from inedible field corn, grown using regenerative farming practices; the production process also will utilize renewable electricity and renewable natural gas, resulting in low-carbon fuels with substantially reduced carbon intensity.
Hawaiian (HA) said the agreement brings it a step closer to achieving itsgoal of net-zero carbon emissions by 2050.
Gevo (GEVO) shares closed Thursday’s trading at $1.51, the lowest since November 2020.