Southwest Airlines Co. (NYSE:LUV) has sold its renewable fuels division to Conestoga Energy as the airline scales back its climate initiatives after years of slow industry progress, Bloomberg News reported Thursday.
According to the report, Conestoga Energy—a leading provider of low-carbon biofuels—acquired Saffire Renewables LLC from Southwest Airlines Renewable Ventures.
The terms of the transaction were not disclosed.
The deal encompasses all intellectual property, associated technologies, key members of the leadership team, and a proposed pilot facility in Kansas designed to produce sustainable aviation fuel (SAF).
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