Gevo has signed an agreement with Delta Air Lines to supply 75 million gallons of sustainable aviation fuel (SAF) per year for seven years.
Gevo estimates that the agreement should generate approximately $2.8 billion (€2.5 billion) of revenue over the seven-year term of the agreement.
The Agreement replaces the existing agreement signed with Delta in 2019 to purchase 10 million gallons per year and bolsters Delta’s commitment to incorporating SAF into its operations.
“On behalf of the entire team at Gevo, I want to congratulate our partners at Delta for their leadership in continuously pushing the aviation industry towards net-zero emissions. Delta makes for a great customer, recognizing that big change is needed. I also appreciate their faith in what we are doing at Gevo. Net-zero jet fuels matter. We expect production from our first Net-Zero plant to begin in 2025. To meet the demand that we now have under contract, we need to develop and build more than one Net-Zero plant. This is a happy problem to have,” said Patrick Gruber, Gevo’s CEO.
“Net-zero fuels are made by using low-carbon feedstocks produced with climate-smart agricultural practices and by eliminating fossil-based energy from the business system as much as possible. In addition, our customers depend on us to count carbon at every step of the process,” said Paul Bloom, Ph.D., Gevo’s chief carbon officer, and chief innovation officer.
“SAF is a critically important lever we have available today to help our industry reduce the lifecycle carbon emissions from aviation fuel,” said Kelly Nodzak, Delta’s director of global jet fuel procurement. “That’s why we are working to develop the market and a broader understanding of the effectiveness of SAF, which can reduce lifecycle emissions
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