Southwest Airlines and British Airways-owner IAG have agreed to purchase nearly 300M gallons of sustainable aviation fuels (SAF) to be created from woody biomass at Velocys’ Natchez, Miss.-based biorefinery as early as 2026. The aviation industry has thrown its weight behind SAF to make flying more environmentally friendly before less carbon-intensive hybrid, electric or hydrogen airplane options become available in the late 2030s. The Natchez Bayou Fuels facility is expected to produce fuel considered carbon negative, due to its use of biogenetic feedstock, renewable power, and carbon capture technology offsetting emissions from burning of fuel. The fuels made at the Bayou Fuels facility will be blended with petroleum-based jet fuel to generate more than 750 gallons of negative carbon sustainable aviation fuel. Velocys is projecting revenues up to $3B over the course of the agreements. IAG agreed to purchase 220,000 tons of SAF over 10 years beginning in 2026, as part of its goal of using 10 percent SAF by 2030. Southwest's purchase of 220M gallons of SAF will span 15 years. Reuters 11/10/21)
No comments:
Post a Comment