Thai venture to produce jet fuel from used cooking oil
A joint venture of three Thai companies in the petroleum industry has announced plans to make aviation fuel from used cooking oil.
The project will receive an initial investment between eight and ten billion baht ($273 million) from its stakeholders, petroleum and energy conglomerate Bangchak Corporation, which holds 51 per cent, Thanachok Oil Light with 29 per cent and biofuel producer BBGI with 20 per cent.
The venture plans to collect used cooking oil across the country. The public will be invited to bring their used cooking oil to 2,000 locations nationwide, where they can either sell it or exchange it for fresh cooking oil.
Collecting used cooking oil nationwide
Used cooking oil will also be collected from Thailand’s food industry, including from the numerous fast food restaurants in the country. The food industry in Thailand produces around 17 million liters of used cooking oil every month, enough to produce 1,000 liters of bio-jet fuel per day.
If all goes to plan, the product could be available in the fourth quarter of 2024, said chief executive officer and president of Bangchak Corporation, Chaiwat Kovavisarat.
Demand for sustainable jet fuel increasing
He said the venture is working with companies in Italy to develop the technology to convert used cooking oil into jet fuel, noting that 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 European Union will accelerate the use of biojet fuel by increasing the carbon tax from €80 to €100 per tonne to up to €200 per tonne. By 2030, the demand will have increased significantly,” Kovavisarat said.
A joint venture of three Thai companies in the petroleum industry has announced plans to make aviation fuel from used cooking oil. The project will receive an initial investment between eight and ten billion baht ($273 million) from its stakeholders, petroleum and energy conglomerate Bangchak Corporation, which holds 51 per cent, Thanachok Oil Light with 29 per cent and biofuel producer BBGI with 20 per cent. The venture plans to collect used cooking oil across the country. The public will be invited to bring their used cooking oil to 2,000 locations nationwide, where they can either sell it or exchange...
A joint venture of three Thai companies in the petroleum industry has announced plans to make aviation fuel from used cooking oil.
The project will receive an initial investment between eight and ten billion baht ($273 million) from its stakeholders, petroleum and energy conglomerate Bangchak Corporation, which holds 51 per cent, Thanachok Oil Light with 29 per cent and biofuel producer BBGI with 20 per cent.
The venture plans to collect used cooking oil across the country. The public will be invited to bring their used cooking oil to 2,000 locations nationwide, where they can either sell it or exchange it for fresh cooking oil.
Collecting used cooking oil nationwide
Used cooking oil will also be collected from Thailand’s food industry, including from the numerous fast food restaurants in the country. The food industry in Thailand produces around 17 million liters of used cooking oil every month, enough to produce 1,000 liters of bio-jet fuel per day.
If all goes to plan, the product could be available in the fourth quarter of 2024, said chief executive officer and president of Bangchak Corporation, Chaiwat Kovavisarat.
Demand for sustainable jet fuel increasing
He said the venture is working with companies in Italy to develop the technology to convert used cooking oil into jet fuel, noting that 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 European Union will accelerate the use of biojet fuel by increasing the carbon tax from €80 to €100 per tonne to up to €200 per tonne. By 2030, the demand will have increased significantly,” Kovavisarat said.
