This is an interesting move and, frankly, an uncharacteristic move for Cathay. They've built their success on letting others try new platforms, aircraft, and technologies and then ordering once the bugs have been worked out and the real-world performance has been compared to the brochure. So seeing them invest in a biofuel startup perhaps signals a new tack for the Hong Kong carrier, or at least a new sense of experimentation.
As for the company itself:
"Fulcrum converts municipal solid waste into sustainable aviation fuel or biojet fuel. Cathay Pacific is Fulcrum’s first airline investor and has an option for further investment. The Hong Kong-based airline has also negotiated a long-term supply agreement with Fulcrum for an initial 375 million US gallons of sustainable aviation fuel over 10 years (representing approximately 2% of the airline’s current annual fuel consumption) that meets the airline’s technical requirements and specifications."