Shell has withdrawn from the Altalto Joint Development Agreement – a green jet fuel project on the South Humber bank in the UK.
Velocys and British Airways will continue to work together in order to secure finance for the Altalto Immingham plant, which has been under way for several months.
As the project progresses, Velocys, British Airways and potentially other new partners will focus on the next stages.
Preparations are under way to apply for significant government funding for the sustainable aviation fuel (SAF) project.
While there is no guarantee that such an application would be successful, the company believes that the project is well placed to achieve this.
Henrik Wareborn, Velocys CEO, said: “We are looking forward to moving Altalto Immingham to the next stage of development in 2021. Altalto Immingham is the most advanced commercial SAF project in the UK and is ready to take advantage of the strong push from both Government and industry for the decarbonisation of aviation, especially using waste feedstocks.”
Sean Doyle, British Airways CEO, added: “SAF is vital to the decarbonisation of aviation and to helping us achieve our net zero target. The formation of the Jet Zero Council and the recent launch of its Sustainable Aviation Fuels Delivery Group are testament to the importance that the Government attaches to SAF. We are excited to continue to work with Velocys, with the support of Government and other private-sector partners.”
Matthew Tipper, Shell VP New Fuels, said: “Shell is pursuing multiple opportunities across our global portfolio. On this occasion, we have decided to focus our resources on other lower carbon fuels opportunities which leverage our own technology. We will continue to work with the aviation industry and the UK Government, as part of the Jet Zero Council, to help decarbonise UK aviation. We wish Altalto every success in the future.”
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