Corteva (NYSE:CTVA) and bp (NYSE:BP) announced on Wednesday, January 7, 2026, the formation of Etlas, a 50:50 joint venture aimed at scaling the production of crop-based oil feedstocks.
The venture is specifically designed to meet the skyrocketing global demand for Sustainable Aviation Fuel (SAF) and Renewable Diesel (RD), leveraging Corteva's seed technology and bp's massive refining and distribution network.
Etlas will focus on "intermediate" or "cover" crops—including canola, mustard, and sunflower—grown on existing cropland during fallow periods between main food seasons.
This "capital-light" model allows for the production of low-carbon intensity feedstocks without displacing food production or requiring new land.
The venture aims to begin initial supply in 2027, supporting both co-processing at existing refineries and dedicated standalone biofuel plants.
By the mid-2030s, Etlas targets a production capacity of 1 million metric tonnes of feedstock per year.
According to the companies, this volume could yield over 800,000 tonnes of high-quality biofuel annually.
Ignacio Conti, formerly of Corteva, has been named CEO, while Gaurav Sonar from bp will chair the Board of Directors.