Repsol and Bunge have announced a significant advancement in renewable fuel development in Europe. The companies will incorporate intermediate novel crops, specifically camelina and safflower, into the production of renewable fuels. These crops will be processed into low-carbon intensity oils and used as feedstock to produce hydrotreated vegetable oil (HVO) and sustainable aviation fuel (SAF).
This innovation expands the available pool of low-carbon intensity feedstocks, potentially reducing emissions by up to 90% compared to conventional diesel. Repsol will utilize advanced technology in its industrial assets to convert these oils into renewable fuel, creating a new pathway for renewable fuel development in Spain.
The partnership, which recently closed its previously announced transaction, is committed to ongoing research and development to explore additional low-carbon feedstock opportunities. This includes sourcing novel seeds from Spanish farmers to boost the supply of advanced renewable fuels.
Julio Garros, Co-President of Agribusiness at Bunge, emphasized the company's commitment to providing innovative solutions and supporting farmers' efforts in low-carbon agriculture. Juan Abascal, Repsol's executive managing director of Industrial Transformation and Circular Economy, highlighted renewable fuels as a fundamental pillar in Repsol's goal to achieve zero net emissions by 2050.
This collaboration marks a significant step towards decarbonizing industry and mobility in Europe, offering farmers new income opportunities through sustainable crop rotations while improving soil health and biodiversity.
