American Airlines has retained Ocean Park, a boutique investment bank with expertise in the renewable fuels industry, to assist with evaluating alternative jet fuels and identifying the most promising companies and technologies.
American said it recognizes the need to make jet fuel more sustainable and is encouraged by the pace of developments within the renewable jet fuel industry. The airline is seeking opportunities to make binding commitments to reliably source fuel that meets specifications and is priced at or near market prices for traditional jet fuel.
American’s engagement with Ocean Park will build on the airline’s longstanding work with the Commercial Aviation Alternative Fuels Initiative (CAAFI) and Airlines for America (A4A).
Ocean Park will engage with key entities in the advanced biofuels and renewable jet fuel sectors to assist American in further developing its renewable jet fuel strategy and identifying specific opportunities. A key focus of Ocean Park’s effort will be commercialization timelines for alternative pathways to the production of renewable jet fuel. Ocean Park’s efforts will help accelerate American’s desire to positively impact the overall renewable jet fuel industry’s growth and development.