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FedEx agrees to buy 3 million gallons of biofuel a year

The world's largest air cargo company and the nation's largest domestic carrier may soon fly on biofuel made from dead trees, bark, branches and leaves.

The announcement Tuesday by FedEx to buy 3 million gallons of biofuel a year for eight years puts it in the same rarefied air as Southwest Airlines, which last year signed an agreement to buy that amount from Colorado-based Red Rocks Biofuel, starting next year.

Both companies are moving in advance of the United Nations' plans next year to begin regulating emissions from commercial aircraft.

FedEx plans to buy the biofuel, starting in 2017, from the same company that will supply Southwest.