RTTNews | Jan 11, 2022 07:14AM EST

07:14 Tuesday, January 11, 2022 (RTTNews.com) - ExxonMobil (XOM) said the company is acquiring a 49.9% stake in Biojet AS, a Norwegian biofuels company. Biojet plans to develop up to five facilities to produce the biofuels and biofuel components. The agreement enables ExxonMobil to purchase as much as 3 million barrels of the products per year. ExxonMobil noted that Biojet AS's biofuels can be used for passenger vehicles and heavy trucks.

"The agreement with Biojet AS advances ExxonMobil's efforts to provide lower-emissions products for the transportation sector," said Ian Carr, president of ExxonMobil Fuels and Lubricants Company.

Read the original article on RTTNews ( https://www.rttnews.com/3254229/exxonmobil-acquires-49-9-stake-in-biojet-as-quick-facts.aspx)

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