Phillips declined to make an executive available for comment and both ADM and Phillips 66 declined to comment.
TECH LINED UPAxens SA, which provides technology to convert oil and biomass to lower-carbon fuels, in May agreed to provide its ethanol-to-fuels conversion technology to Phillips, ADM or a joint venture.
ADM already formed a joint venture in 2021 with top U.S. oil refiner Marathon Petroleum Corp (MPC.N) to churn out renewable diesel from soybeans.
Top oilseed processor Bunge (BG.N) and Chevron (CVX.N) last year formed Bunge Chevron Ag Renewables to make renewable fuels from soybeans and canola.
As part of one deal, Chevron invested $600 million in the joint venture, helping double processing capacity at two Bunge soybean crushing facilities.
Persons:
Nathan Frandino, refiner Phillips, Phillips, Axens, Gevo, Stephanie Kelly, Karl Plume, Jarrett Renshaw, Erwin Seba, Marguerita Choy
Organizations:
Phillips, American West, REUTERS, Daniels, Midland, ADM, Renewable Fuels Association, TECH, Axens SA, Gevo Inc, Marathon Petroleum Corp, Bunge, Chevron, Bunge Chevron Ag Renewables, Thomson
Locations:
Rodeo , California, American, U.S, Peoria , Illinois, Columbus , Nebraska, Cedar Rapids , Iowa, Houston, , California, California, Paris, North Dakota, Bunge Chevron, New York, Chicago, Washington