Nate’s Food, which supplies an interesting combination of “sugar, chicken paws, and jet fuel commodities,” according to the company’s website, recently secured $8 billion in aviation fuel in a “groundbreaking” joint-venture agreement with a “highly regarded” refinery allotment holder, the company reported.
The deal ensures a reliable monthly supply of up to 8 million barrels of aviation fuel—or 96 million barrels annually—“significantly” bolstering the company’s growth trajectory and presence within the aviation fuel sector.
“This joint venture represents a remarkable achievement for the company as we solidify our position in the aviation fuel market,” Nate’s Food CEO Nate Steck said in a news release. “The ability to maintain a consistent and substantial supply of jet fuel empowers us to efficiently meet our clients’ needs and ensures our sustainable growth within the industry.”
The California-based company and its partner began developing their collaboration in December 2023, the companies said. The next step is for Nate’s Food to obtain its own fuel storage tanks in Houston, Texas, and Rotterdam, Netherlands, according to the release. “We have made substantial progress in this regard, as our joint-venture partner has introduced us to tank farms, and we are in the process of securing a tank storage agreement with a tank farm,” the company stated. “The tank storage agreement enables us to purchase fuel from our joint-venture partner and distribute it within our extensive buyer network.”
The JV includes the potential for increasing Nate’s monthly allotment of jet fuel, the company said.
Nate’s Food said it “has already established a vast network of buyer’s agents who will promptly initiate the sales process for the aviation fuel supply under the joint-venture agreement. The company’s unwavering commitment to delivering top-quality fuel and its ability to foster robust relationships within the industry sets a promising stage for this endeavor.”