Delta is flying its green initiatives to the next level.
Delta Air Lines Inc. (NYSE: DAL) said Tuesday it agreed to a “long-term offtake agreement” to purchase 10 million gallons annually of advanced renewable biofuels from Gevo Inc. (Nasdaq: GEVO). Delta said sustainable aviation fuels have a carbon footprint that can be up to 75% less than conventional jet fuel.
The deal, finalized on Dec. 11, calls for Gevo to sell the fuel to Delta at a fixed price for the first seven years of the agreement,…