Syzygy Plasmonics has announced a framework agreement with the International Finance Corporation (IFC), the private sector arm of the World Bank Group, to support the development of a pipeline of sustainable aviation fuel (SAF) projects across Latin America.
Under the agreement, IFC will provide technical and commercial advisory services as Syzygy advances individual projects. The framework establishes a pathway for further collaboration as Syzygy scales its SAF platform across the region.
The first project supported under the framework is NovaSAF-1, a planned commercial-scale SAF facility in Durazno, Uruguay.
As the first commercial deployment of Syzygy's technology, the project is expected to demonstrate a new approach to producing sustainable aviation fuel using renewable electricity and biogas, while serving as a model for potential future facilities across Latin America.
Unlike conventional industrial processes that rely on fossil-fuel heat, Syzygy's proprietary technology uses renewable electricity to power light-driven reactors that convert biogas into sustainable aviation fuel. The company estimates the process can reduce lifecycle greenhouse gas emissions by up to 90 percent compared with conventional jet fuel.
"The transition to lower-carbon aviation will depend on technologies that are not only innovative, but commercially viable and scalable," said Raphaël Eskinazi, IFC regional investment manager for manufacturing and forests in Latin America and the Caribbean. "IFC's role is to help bridge that transition: supporting pioneering projects that can mobilize private capital, demonstrate new business models and create pathways for broader market adoption across emerging economies."
"IFC's involvement is a strong signal that Syzygy is poised to disrupt the market; we have the technology, the project pipeline, and the commercial agreements that underpin it," said Trevor Best, co-founder and CEO of Syzygy Plasmonics. "IFC's role in helping innovative technologies become commercially viable and replicable across emerging markets matches the ambition of our NovaSAF™ build-out."
Syzygy Plasmonics and IFC partner to advance SAF projects in Latin America
