Biofuel is created using plant-based or animal-based oil such as used cooking oil from fast food restaurants or palm oil. The most well-known type of biofuel is biodiesel which can be produced by recycling used oil through relatively simple steps compared to petroleum production. Biodiesel also meets the biomass-based diesel and overall advanced biofuel requirement of the Renewable Fuel Standard set by the United States government. Biofuel emits up to 80 percent less carbon dioxide than fossil fuels.
Biofuel in the aviation sector is being researched by various companies and organizations for commercialization. In a bid to reduce the emission of carbon dioxide, the European Union revealed a plan to gradually reduce the aviation sector's dependency on fossil fuel and increase the rate of adoption of bio aviation fuel, also known as sustainable aviation fuel (SAF). EU proposed a mandate for air carriers to blend SAF with jet fuel to increase the minimum share of bio aviation fuel from two percent in 2025 to 63 percent in 2050.
GS Caltex said that the company signed a memorandum of understanding with Korean Air to supply the flag carrier with bio jet fuel and the air carrier will carry out demonstrations. The two companies will also collaborate to create infrastructure and environment for the rapid commercialization of SAF.
"GS Caltex will set up a bio jet fuel supply chain network while Korean Air carries out demonstrations to check and verify each company's roles and capabilities in the process of adoption," GS Caltex Vice President Kim Chang-soo said in a statement on June 29.
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