BioJet International Ltd. has received a whopping $1.2 billion of financial backing from Equity Partners Fund SPC. The massive amount of capital will allow BioJet, an international supplier of renewable aviation fuels, to fund its biofuel development and launch projects aimed at expanding the use of renewable feedstocks.
BioJet chairman Mitch Hawkins remarked on the significance of receiving monetary backing:
BioJet's renewable fuel operations cover feedstock generation, fuel refining, logistics, sustainability certification, and distribution to the end user.This funding agreement with Equity Partners will form the cornerstone of BioJet capital projects and accretive EBIDTA positive acquisitions over the next five years. It enables a clear path to the expansion of our Camelina, Jatropha, and Algae feedstock projects as well as our Avia renewable jet refining projects in Latin America, Asia, and Europe. We will also be seeking acquisitions of listed companies which can add value geographically and strategically.
[Source: Green Car Congress | Image: abdallahh – C.C License 2.0]