03:44 PM EST, 12/10/2024 (MT Newswires) -- Parkland (PKI.TO) said Tuesday it has, with the help of the government of British Columbia, successfully produced Canada's first batch of low carbon aviation fuel at its Burnaby Refinery in the province.

Ferio Pugliese, Senior Vice President at Parkland, in a statement said: "This pilot project demonstrates how constructive incentives can spur Canadian production of low carbon aviation fuel."

Using existing infrastructure, Parkland said its Burnaby Refinery has successfully produced approximately 101,000 litres of low carbon aviation fuel by using non-food grade canola and tallow as core feedstocks. With appropriate certification across the full supply chain, low carbon aviation fuel (LCAF) could be classified as sustainable aviation fuel (SAF). This batch of fuel has been purchased by Air Canada ( ACDVF ) .

According to Tuesday's statement, low carbon aviation fuel has lower lifecycle greenhouse gas emissions than conventional jet fuel and can be used in existing aircraft without modification. Through incentives and ongoing government support, this fuel can play an essential role in supporting Canada's 2050 net-zero targets, the statement said.

PKI was last seen down near or 1.6% at $35.95, amid losses for the broader market.

Price: 35.90, Change: -0.63, Percent Change: -1.72