TPI Composites files for Chapter 11 bankruptcy, plans delisting from Nasdaq
Investing.com -- Southwest Airlines Co. sold its renewable fuels unit to Conestoga Energy as the carrier reduces its climate initiatives after years of limited industry progress, Bloomberg News reported on Thursday.
Conestoga Energy, a major low-carbon intensity biofuel provider, said it purchased Saffire Renewables LLC from Southwest Airlines Renewable Ventures, according to the report.
The financial terms of the deal were not disclosed.
The acquisition includes all intellectual property, related technologies, key leadership team members, and a proposed pilot facility in Kansas that would produce sustainable aviation fuel (SAF), it added.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.