British Airways drops Solena project after failure to raise funds to build plant

In the UK, Solena’s project to develop a MSW-to-aviation biofuel facility in conjunction with British Airways has been dropped due to the company’s failure to raise the necessary investment to build the plant in light of low oil prices. The company needs $70 per barrel oil prices to be competitive at the proposed 16 million gallon facility but struggled to convince investors amidst $50 oil despite BA’s commitment to the project. BA says it still supports aviation biofuel despite ending its relationship with Solena.