BP invests $48.54 mn in Lianyungang Jiaao New Energy

BP will invest Yuan 353 million ($48.54 million) to acquire a 15% stake in Lianyungang Jiaao New Energy, a producer of renewable diesel and sustainable aviation fuels (SAF). The company is owned by Zhejiang-based Jiaao Enprotech. Lianyungang Jiaao New Energy has SAF production capacity of 100,000 tonnes per year, which could become crucial as the