A project to make aviation fuel from used cooking oil in Thailand is receiving a 10 billion baht investment, according to petroleum company Bangchak Corporation Plc (BCP). If all goes to plan, the product could be available to buy as soon as Q4, 2024.
Yesterday, officials from three companies – BCP, BBGI Plc, and Thanachok Oil Light – signed the paperwork to make their dream of sustainable aviation fuel (SAF) a reality. BCP will hold a 51% stake in the venture, Thanachok Oil Light will hold 29% and BBGI will hold 20%.
For the venture to be successful, it will need used cooking oil from the people of Thailand. The public will be invited to bring their used cooking oil to 2,000 locations nationwide, where they can either sell it to Bangchak or exchange it for more oil.
Used cooking oil will also be collected from Thailand’s food industry, including from the numerous fast food restaurants in the kingdom. The food industry produces around 17 million litres of used cooking oil every month, enough to produce 1,000 litres of bio-jet fuel per day.
The project, the first of its kind in Thailand, will receive an initial investment between eight and ten billion baht, said Chief Executive Officer and President of BCP Chaiwat Kovavisarat.
Chaiwat said the BCP is working with companies in Italy to develop the technology to convert used cooking oil into jet fuel. Chaiwat said Bangchak already has a head start…
“For this project, BCP has the advantage of hydrogen, which is a substance obtained during the distillation process. Hydrogen can be used to purify used vegetable oil and turn it into “Biojet” fuel. It makes the project more economical because we aren’t starting from scratch.”
Chaiwat said the global demand for sustainable aviation fuel is increasing…
“If any airline does not use biojet oil, they will have to buy ‘carbon credits’, which cost 3,000 times more. The EU will accelerate the use of biojet fuel by increasing the carbon tax from 80-100 euros per tonne up to 200 euros per tonne. By 2030, the demand will have increased significantly.”
In April, an Airbus A380 flew for three hours with one engine powered entirely by sustainable aviation fuel made from used cooking oil and other fats.
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