5 Best Algae and Biofuel Stocks To Buy

3. BP p.l.c. (NYSE:BP)

Number of Hedge Fund Holders: 25

One of the biggest energy companies in the world, BP p.l.c. (NYSE:BP) is invested heavily to position itself in the biofuel industry. Last year, BP p.l.c. (NYSE:BP) bought a 30% stake in Green Biofuels Ltd., which is the UK’s largest provider of hydrogenated vegetable oil (HVO). BP p.l.c. (NYSE:BP)’s website says that BP p.l.c. (NYSE:BP) in 2017 produced 776 million liters of ethanol equivalent from sugarcane in Brazil alone, which was enough to offset emissions of 260,000 European cars.

In 2019, BP p.l.c. (NYSE:BP) signed a partnership with Bunge to form biofuels plant in Brazil.