Japanese companies full steam ahead of algae and other biofuels despite low fuel demand

In Japan, the Nikkei newspaper reports that Japanese companies are bucking the trend and investing in algae-based and palm oil waste-based biofuels even though COVID-19 has negatively impacted fuel demand and there is limited market currently for aviation biofuels. Southeast Asia, rather than Japan, are keys areas for production expansion due to significantly more sunlight availability for algae and availability of palm waste. Major companies like Itochu, Eneos and Chevron are backing the moves towards increased production, making bets they hope will pay off when fuel demand returns to normal.