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TotalEnergies (NYSE:TTE) said Tuesday it signed a heads of agreement with Sinopec to develop a sustainable aviation fuel production unit in China.
The unit, which will be jointly built and owned by both companies, will have the capacity to produce 230K tons/year and process local waste or residues from the circular economy, the French firm said.
Sinopec has developed its own SAF production technology, while TotalEnergies (TTE) said it will provide technical, operational and distribution capabilities.
"The development of sustainable aviation fuels is at the heart of our company's transition strategy," TotalEnergies (TTE) Chairman and CEO Patrick Pouyanne said, adding that the company has set a target of 1.5M tons/year of SAF production by 2030.