There’s yet another big bet being placed on sustainable aviation fuel being the future of low emission air travel.
What’s happening:
- Amsterdam based sustainable aviation fuel company SkyNRG has raised €175M in a new financing round
- The round was led by Macquarie Asset Management
Why it matters:
- Decarbonizing air travel is one of the most daunting obstacles in the way of getting closer to net zero emissions, which sustainable aviation fuel has shown significant promise for helping with
Going deeper:
- SkyNRG plans to build new facilities in Europe and the United States for fuel production
- KLM Royal Dutch Airlines and Boeing are two of the major aviation companies to enter into fuel supply agreements with SkyNRG
By the numbers:
- SkyNRG has publicly stated that they have approximately €4B in future purchase agreements for sustainable aviation fuel from major airline companies globally
- Using sustainable aviation fuel instead of fossil jet fuel can reduce emissions by approximately 75% over the lifespan of an aircraft
