Zhejiang Jiaao Enprotech 603822 announced an investment deal with BP, marking the first alliance between a global oil major and China's emerging green aviation fuel sector. BP is set to invest 354 million yuan for a 15% stake in Lianyungang Jiaao Enproenergy Co, a company building a 500,000-ton-per-year sustainable aviation fuel plant in Lianyungang. Jiaao Enproenergy Co focuses on converting waste cooking oil into sustainable aviation fuel, catering to both export markets and China's domestic demand. The move aligns with China's goal to promote sustainable aviation fuel to reduce CO2 emissions significantly. Notably, China is the world's second-largest aviation fuel market, with approximately 11% of global jet fuel consumption. BP's investment in Jiaao Enproenergy Co reflects its commitment to lower-carbon energy, with plans to develop sustainable jet fuel and green hydrogen facilities in Spain and Germany. The partnership between BP and Jiaao signifies a milestone in the development of green aviation fuel in China, with potential for positive environmental impact and growth in the global market.