Nate’s Food Co has entered a joint venture agreement for the sale of $8bn in aviation fuel, according to a press release.
This joint venture involves a direct collaboration with a highly regarded refinery allotment holder, ensuring the company a reliable monthly allotment of up to 8 million barrels of aviation fuel. This commitment translates into an annual supply of 96 million barrels.
Nate’s Food Co’s CEO, Nate Steck expressed his enthusiasm for this pivotal partnership, stating, “This joint venture represents a remarkable achievement for the Company as we solidify our position in the aviation fuel market. 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.”
According to the release, the company’s next strategic step is to obtain its own fuel storage tanks in Rotterdam, Netherlands and Houston, Texas. 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 tank storage agreement enables us to purchase fuel from our Joint Venture partner and distribute it within our extensive buyer network.
The company can potentially increase the monthly allotment under the joint venture to meet any surging demand. The company plans to leverage this newly secured supply chain to cultivate and engage potential buyers for aviation fuel as part of the joint venture.
Nate’s Food Co 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.
