Boeing, COMAC open joint biofuel facility

October 23, 2014, Hangzhou, China – Boeing and Commercial
Aircraft Corp. of China (COMAC) have opened a demonstration facility that will
turn waste cooking oil, commonly referred to as "gutter oil" in
China, into sustainable aviation biofuel. The two companies estimate that 1.8
billion liters of biofuel could be made annually in China from used cooking
oil.

"Strong and continuing teamwork between Boeing and
COMAC is helping our industry make progress on environmental challenges that no
single company or country can solve alone," said Ian Thomas, President,
Boeing China. "By working together for mutual benefit, we're finding
innovative ways to support China's aviation industry and build a sustainable
future."

Boeing and COMAC are sponsoring the facility, which is
called the China-U.S. Aviation Biofuel Pilot Project. It will use a technology
developed by Hangzhou Energy & Engineering Technology Co., Ltd. (HEET) to
clean contaminants from waste oils and convert it into jet fuel at a rate of
160 gallons (650 liters) per day. The project's goal is to assess the technical
feasibility and cost of producing higher volumes of biofuel.

"We are very happy to see the progress that has been
made in the collaboration between Boeing and COMAC, especially the achievement
in aviation biofuel technology," said Dr. Guangqiu Wang, Vice President of
COMAC's Beijing Aeronautical Science & Technology Research Institute.
"We will continue to work with Boeing in energy conservation and emissions
reduction areas to promote the sustainable development of the aviation
industry."

Sustainably produced biofuel, which reduces carbon emissions
by 50 to 80 percent compared to petroleum through its lifecycle, is expected to
play a key role in supporting aviation's growth while meeting environmental
goals. The Boeing Current Market Outlook has forecast that China will require
more than 6,000 new airplanes by 2033 to meet fast-growing passenger demand for
domestic and international air travel.

Boeing and COMAC have been collaborating since 2012 to
support the growth of China's commercial aviation industry. Their Boeing-COMAC
Aviation Energy Conservation and Emissions Reductions Technology Center in
Beijing works with Chinese universities and research institutions to expand
knowledge in areas that improve aviation's efficiency, such as aviation biofuel
and air traffic management.

Biofuel produced by the China-U.S. Aviation Biofuel Pilot
Project will meet international specifications approved in 2011 for jet fuel
made from plant oils and animal fats. This type of biofuel has already been
used for more than 1,600 commercial flights.