Per the Wall Street Journal, field pennycress, also called CoverCress, is generally considered a weed. However, its very high oil content, about 50% higher than that of a soybean, makes it much more valuable than most weeds. CoverCress is now being cultivated as a source for renewable diesel or sustainable aviation fuel.
The primary feedstock oil source for biofuels is currently soybeans, also corn. However, scientists are hoping to find oilseed plants that could potentially produce renewable fuels without competing with food sources. As a result, CoverCress is one of three non-food crops that have received funding from the U.S. Department of Agriculture. The other two – Nuseed Carinata and a plant called camelina, marketed by Global Clean Energy Holdings – are also oilseed crops grown in the winter fallow period.
Major oil companies have noticed. In 2022, BP agreed to buy Nuseed Carinata oil to process or sell as a supply of sustainable biofuels. Chemical and pharma giant Bayer expanded its stake in CoverCress to a 65% ownership share, with the remainder held by Chevron and agricultural trading house Bunge. Exxon Mobil has a multiyear agreement with Global Clean Energy Holdings to purchase diesel made from camelina.
Aviation is among the industries that are pushing demand for biofuels. Sustainable aircraft fuel (SAF) is still in its infancy. Output in 2021 was 100 million liters. For the industry to achieve net zero carbon output by 2050, about 449 billion liters would be needed according to the International Air Transport Association (IATA). In 2022, 450,000 flights used SAF as a fuel source, only 1.5% of total flights says IATA.
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Read More: https://www.wsj.com/articles/biofuel-renewable-diesel-cover-crops-2077c807