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Phillips 66 and Southwest Airlines collaborate to advance sustainable aviation fuel
April 22, 2021 GMT
HOUSTON--(BUSINESS WIRE)--Apr 22, 2021--
Phillips 66 (NYSE: PSX) and Southwest Airlines (NYSE: LUV) have signed a memorandum of understanding to advance the commercialization of sustainable aviation fuel, focusing on public awareness and research and development. The memorandum of understanding also sets the framework to explore a future supply agreement involving Phillips 66’s Rodeo Renewed project in California and highlights the commitment by both companies to a sustainable energy future.
Sustainable aviation fuel, or SAF, is a lower carbon-intensity fuel that can be produced from renewable feedstocks such as waste oils, fats, greases and vegetable oils. It is a drop-in fuel, meaning it can be used in existing aircraft engines and airport fuel infrastructure.