This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Boeing, GOL Airlines Announce Collaboration To Increase Sustainable Aviation Biofuel Supply In Brazil

Stocks in this article: BA GOL

CANCUN, Mexico, Nov. 14, 2013 /PRNewswire/ -- Boeing [NYSE: BA] and GOL Linhas Aereas Inteligentes S.A. (BM&FBOVESPA: GOLL4 and NYSE: GOL) will work together to speed the research, development and approval of new sources of sustainable aviation biofuel in Brazil. Their collaboration will support GOL's plans to use this lower-carbon jet fuel on more flights during upcoming major sporting events and also will benefit long-term development of a new sustainable aviation biofuel industry in Brazil.

Paulo Sergio Kakinoff, chief executive officer of GOL, and Van Rex Gallard, vice president of Sales for Africa, Latin America and the Caribbean, Boeing Commercial Airplanes, signed a memorandum of understanding for biofuel collaboration at the Latin America and Caribbean Air Transport Association (ALTA) Airline Leaders Forum 2013.

"Because of its continuous improvements in technology that result in ever-lower fuel consumption, the Boeing Next Generation 737 is the only airplane that GOL flies," said Paulo Kakinoff, chief executive officer for GOL. "Boeing's focus on fuel efficiency helps us all operate in a more sustainable fashion, and the expansion of our partnership with this new project will further advance the effort to expand biofuel use in Brazil. It also will serve as an example to the world of what is possible today and in years to come."

"Boeing is very pleased to work with GOL on this key project to advance the use and availability of biofuels," said Gallard. "As Brazil's leading low-cost carrier, GOL is showing great leadership in its efforts to conduct lower-carbon flights."

GOL plans to use sustainable biojetfuel on 200 flights during the major sporting event in Brazil in 2014 and to incorporate biofuel into 20 percent of its flights during the major sporting event taking place in Rio de Janeiro in 2016. Boeing will work with GOL to identify and select the most promising feedstocks and refining technologies and then will play a leading role in the approval process for new fuel pathways to ensure the fuel meets safety and performance standards.

The agreement between Boeing and GOL is a significant new step in efforts to advance an aviation biofuel industry in Brazil. On Oct. 23, Brazil's Aviator's Day, GOL conducted Brazil's first commercial biofuel flight in a Boeing 737-800 powered in part by sustainable aviation biofuel made from waste cooking oil and blended by Petrobras, with support from the Inter-American Development Bank (IDB). Following the flight, aviation industry stakeholders including GOL and Boeing, as well as Brazilian officials and research institutions, announced a national effort called the Brazilian Biojetfuel Platform to establish a sustainable biojetfuel industry with research and development in several regions of the country. If the Platform is successful, Brazil, which has already established a biofuel industry could be the first nation to establish a sustainable aviation biofuel industry from biomass production to flight.

Contact: Jim ProulxBoeing International Sales Communications+1 206 850-2102 jim.proulx@boeing.com

Marcus De Barros PintoGOL: Brazil Communications+55 11 9.8699.8085

Jessica KowalBoeing Commercial Airplanes Environment Communications+1 206 660 6849 jessica.m.kowal@boeing.com

SOURCE Boeing

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs