Northwest Advanced Bio-Fuels has made progress toward securing a strategic long-term investment into its Sustainable Aviation Fuel (SAF) project in Washington State from Stonepeak Infrastructure Partners - an independent investment firm.
The potential $600 million (€506 million) investment from Stonepeak will help finance the largest announced SAF/renewable biofuels project using cellulosic feedstock in the world.
The project has a long-term 60 million gallon per year off-take agreement, which is one of the largest airline off-take agreements of its kind to purchase SAF.
As originally announced with Delta Air Lines in January 2020, and as affirmed in March 2021, NWABF is a key partner to help Delta achieve zero-impact aviation.
Funding for this initial NWABF project would support the company’s long-term goal of developing a sector leading SAF growth platform able to capitalise on further follow-on opportunities in this important and critical energy transition asset class.
NWABF is seeking to become a leader in SAF by growing additional projects in the renewable fuels space.
“We are excited that a leading infrastructure investment firm sees the potential and the promise of the SAF Industry as well as future potential projects by our team, who have been vital to getting this Project to this point,” said Dave Smoot, founder and manager of the Northwest Advanced Bio-Fuels Project. “We have strived to establish a workable platform to use for future opportunities, which the NWABF team will continue to lead.”
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