In December 2024, SAF efforts continued to expand through diverse collaborations, financial incentives, and infrastructure development aimed at increasing production and adoption.
- Renewable Energy Systems (RES), a project developer and EPC contractor, will sell its hydrogen plant in Alby, Sweden to Prime Capital, a German-based financial services provider. The plant will produce green hydrogen, which will be combined with captured carbon dioxide and further processed into eSAF.
- Aramco, TotalEnergies, and the Saudi Investment Recycling Company (SIRC) have announced a partnership to assess the development of a SAF production facility in Saudi Arabia.
- BBGI Public Company, a Thai-based biofuel firm, has acquired the remaining 30% stake in BBGI Biodiesel Company (BBGI-BI), to accelerate BBGI’s biofuel initiatives, particularly in SAF production.
- Air New Zealand has announced its largest purchase to date of ~8 million gallons of SAF from Neste, a leading SAF producer.
- Lufthansa Cargo, an air freight division of a leading German airline group, and Maersk, a Denmark-based logistics company has announced an agreement to utilize SAF for air freight operations.
- Victor, a UK-based private aircraft charter company, has launched an app that allows clients to voluntarily purchase SAF for their bookings, regardless of the aircraft type or departure airport.
- Saffaire Sky Energy, a joint venture between Japan’s Cosmo Oil, JGC, and Revo International, has received the International Sustainability and Carbon Certification (ISCC) CORSIA for its SAF produced at the Sakai plant, Japan. The Sakai refinery is scheduled to begin operations in Q2 2025, with a production capacity of ~8 million gallons annually.
- Parkland Corporation, a Canadian fuel refiner, producer and distributor, has successfully produced its first batch of low-carbon SAF at its Burnaby Refinery in British Columbia, Canada.
- Parkland Corporation, a Canadian fuel refiner, producer and distributor, has successfully produced its first batch of low-carbon SAF at its Burnaby Refinery in British Columbia, Canada.
- Elyse Energy, a French sustainable fuels company, has secured $126.3 million in funding to accelerate the development of Elyse Energy’s E-CHO project to produce ~20.7 million gallons of SAF, along with ~50.4 million gallons of e-methanol and ~7.1 million gallons of naphtha.
- In November 2024, the U.S. Environmental Protection Agency (EPA) announced that 2.03 billion RINs were generated under the Renewable Fuel Standard (RFS), an increase from 2.01 billion RINs in November 2023. Among these, ~89 million RINs were categorized as D3 Cellulosic Biofuel RINs, which primarily involve the production of biofuels from cellulosic materials such as agricultural residues and waste products, indicating the rising demand for low-carbon fuels.
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