DALLAS – Airbus and a consortium of industry leaders have co-invested in a Sustainable Aviation Fuel (SAF) financing fund to accelerate the production of SAF. This collaborative effort signifies a major step forward in reducing the environmental impact of air travel.
The collaboration brings together a diverse group of stakeholders, including Airbus, the Air France-KLM Group (AF/KL), Associated Energy Group, LLC, BNP Paribas, Burnham Sterling, Mitsubishi HC Capital Inc., and Qantas (QF). They have co-invested approximately US$200 million in the newly established SAFFA fund, managed by Burnham Sterling Asset Management.
Each partner is expected to contribute valuable experience and financial expertise to SAFFA. The fund's primary objective is to accelerate the availability of SAF through strategic investments. These investments will prioritize technologically mature SAF production projects that utilize sustainable feedstocks, such as waste materials.
Furthermore, the fund aims to diversify its portfolio across various SAF production pathways and geographic regions, ensuring a broader and more resilient supply chain.
Priority Access, Sustainable Certification
Participating partners will be able to secure priority offtake agreements for SAF produced by projects within SAFFA's investment portfolio. This approach ensures a reliable supply of sustainable fuel for their operations.
The fund prioritizes SAF that meets the eligibility requirements for RefuelEU Aviation and Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) certification standards. This guarantees that the invested funds contribute to demonstrably sustainable aviation practices.
SAFFA has already invested in Crysalis Biosciences, a technology company pioneering innovative fuel and chemical production methods. Crysalis Biosciences is dedicated to revitalizing the U.S. chemical manufacturing infrastructure with sustainable solutions.
A prime example of their work is the acquisition and renovation of the Monarch facility in Sauget, Illinois, USA. This former ethanol plant, shuttered in 2019, has been revitalized and now boasts the necessary environmental permits to resume operations. The upgraded facility aims to produce low-carbon intensity SAF and biochemicals, contributing directly to a more sustainable aviation industry.
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Exploring Airline History Volume I
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David H. Stringer, the History Editor for AIRWAYS Magazine, has chronicled the story of the commercial aviation industry with his airline history articles that have appeared in AIRWAYS over two decades. Here, for the first time, is a compilation of those articles.
Subjects A through C are presented in this first of three volumes. Covering topics such as the airlines of Alaska at the time of statehood and Canada's regional airlines of the 1960s, the individual histories of such carriers as Allegheny, American, Braniff, and Continental are also included in Volume One. Get your copy today!
December 2024
