Nufarm Limited (NUF:ASX) has expanded its strategic partnership with bp, reinforcing Nufarm’s ambition to scale sustainable biofuels and help meet growing demand for Sustainable Aviation Fuel (SAF) and Renewable Diesel (RD). The updated agreement provides a long-term framework that supports the scalable growth of Carinata to be used as a non-food intermediate crop biofuel feedstock.

Today Nufarm announces an update to its Carinata offtake agreement with bp, which was first announced in 2022, delivering the following benefits:

• The marketing and offtake term is extended to 2050
• The deal will support the expansion of Carinata oil supply, which is underpinned by an established, capital-efficient value chain and proven partnerships spanning from growers to biofuel producers,
• A funding model based on the achievement of stated progress milestones, enabling investment in Carinata seed technology to deliver improved crop performance and varieties to growers,
• bp’s continued access to purchase oil from the Nufarm Carinata Production System.

The offtake agreement has been amended and extended to position Carinata to grow at scale, with a disciplined, capital-light investment model and an acceptable level of capital commitment from Nufarm.

Click here to read the full announcement