ExxonMobil Expands Interest in Biofuels, Acquires Large Stake in Biojet AS

Takeaways:

• ExxonMobil has acquired a 49.9% stake in Biojet AS, a biofuels company that converts forestry and wood-based construction waste into lower-emissions biofuels.
• These biofuels can be used for passenger vehicles and heavy trucks.
• ExxonMobil will purchase as much as 3 million barrels of the fuel.

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