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Qatar Airways plans to invest in Byogy Renewables

A Bloomberg report said Qatar Airways has disclosed plans to venture into the eco-friendly fuel business through an investment in Byogy Renewables, a California, U.S.A.-based enterprise. Byogy’s process will leverage the existing, ethanol-based infrastructure and support the on-going and growing demand for traditional sugar-based biofuels. Qatar Airways’ Senior Manager of Corporate Social Responsibility Chris Schroeder said the company wants to invest in the production of cleaner jet fuel from alcohol, so as to curb the company’s carbon output and meet its emission goals. Its goal is to curb emissions by 2020 and by 2050, the regulating body’s target is to halve the industry’s total 2005 emission levels. The International Air Transport Association (IATA) requires airlines to use jet fuels that contain 6% biofuel by 2020. Byogy CEO Kevin Weiss said that the company plans to build plants in Brazil, the U.S. and the Middle East. Construction of at least two factories will begin next year, and by 2015, these plants are expected to produce commercial quantities of clean jet fuel from ethanol. Byogy has entered into an agreement with a Brazilian ethanol maker to use its alcohol, and is in final negotiations with Azul Linhas Aereas Brasileiras for the distribution of the fuel. Weiss said they are in discussions with a Brazilian lender to raise US$30 million by the fourth quarter of this year. (April 11, 2012)