Northwest Advanced Bio-Fuels (NWABF) has signed a long-term offtake agreement for sustainable aviation fuel (SAF) with a major airline in the US.
The airline, which has not been disclosed, is reportedly one of the world’s largest and most profitable.
NWABF is expected to act as the primary provider of SAF to the airline. “We have spent several years assembling a world-class team of technology and engineering partners who can withstand the scrutiny of potential SAF purchasers,” commented Dave Smoot, CEO of NWABF parent company, US Advanced Bio-Fuels.
“Putting the right companies together, with both hands-on experience in this renewable field, and utilising second generation technology was, and is, the key.”
According to the company, the long-term fuel purchase agreement represents the largest agreement ever announced for SAF.
NWABF will aim to assist the airline in its efforts to reduce its carbon footprint and assist in meeting federal mandates without incurring large risks. The agreement will also help the airline to meet pending international fuel emission guidelines.
Smoot continued: “The technologies being deployed and corporate partnerships that NWABF has assembled generate several hundred billion in annual revenues and are capable of ensuring that airlines with international flights are in compliance with the mandates to reduce their carbon footprints, which are currently being created from the use of petroleum-based jet fuels.
“Our offtake partner initiated its own company-wide carbon reduction programme in 2005, and as a result, has decreased emissions by 11% and has a long-term goal to reduce emissions by 50% by 2050. We believe this is unique to the industry.”
Existing federal, state and international carbon reduction mandates are allowing the capital expenditures required to be more competitive in the aviation industry. The right economic models are now made possible for industry developers such as NWABF and its financial partners.
“The industry has matured to the point that it is now possible to develop price competitive designer SAF projects that compete with petroleum-based jet fuels,” concluded Smoot. “NWABF offers a risk-averse solution to the emissions and sustainability issues airlines face at home and abroad with petroleum-based fuel. As a result of this partnership and for the first time ever, near emission-free, renewable, designer SAF will be available at competitive prices.”
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