Conestoga Energy acquires SAFFiRE Renewables to advance production of SAF

Conestoga Energy  has announced the acquisition of SAFFiRE Renewables, a process technology company that enables production of ultra-low carbon intensity ethanol and intermediates.
The acquisition includes all intellectual property, certain related technologies, the proposed pilot production facility, as well as key leadership team members, enabling Conestoga to further capitalise on the growing demand for reliable renewable fuels, including but not limited to sustainable aviation fuel (SAF).
Terms of the transaction were not disclosed.
“Sustainable aviation fuel represents a multi-billion-dollar market opportunity, and this acquisition positions Conestoga at the leading edge of efforts to bridge the critical supply-demand gap facing the aviation industry while creating transformative opportunities for American agriculture," said Tom Willis, CEO of Conestoga Energy.
“The IP acquired in this transaction will provide us with tremendous optionality not only as it relates to SAF feedstock production, but across our operations.
“The momentum behind low CI fuels is undeniable, driven by regulatory requirements, corporate commitments, and environmental necessity, and this acquisition is reflective of our commitment to delivering the lowest carbon biofuel solutions while creating new value streams for rural communities across America.”