Aemetis signs SAF-supply agreement with Finnair
Aemetis Inc. announced March 25 that an offtake agreement has been signed with oneworld Alliance airline member Finnair for 17.5 million gallons of blended sustainable aviation fuel (SAF) to be delivered over the seven-year term of the contract, the value of which, including incentives, is approximately $70 million. The blended fuel to be supplied under this agreement is 40 percent SAF, which is expected to be produced by the Aemetis renewable diesel and SAF plant under development in Riverbank, California. Deliveries to Finnair are scheduled to begin in 2025.
“Finnair has set an ambitious long-term target to fly carbon neutral in 2045 and SAF is an important part of the toolkit for reaching this target,” said Eveliina Huurre with Finnair. “Supporting SAF adoption is key to boosting the supply and demand for SAF and for increasing its usage in commercial aviation. The agreement also underlines the oneworld Alliance’s commitment to collectively source SAF.”
Eric McAfee, chairman and CEO of Aemetis, added, “The supply of sustainable aviation fuel to Finnair is a part of $2 billion in contracts with oneworld Alliance members to reduce the environmental impact of aviation. Our production of low carbon aviation fuel in California is made possible by the historical success of the California Low Carbon Fuel Standard, creating new investment and jobs in disadvantaged minority communities in the state.”
Powered by 100 percent renewable electricity, the Aemetis Carbon Zero production plant at the Riverbank plant site is designed to sequester CO2 from the production process using injection wells, significantly reducing the carbon intensity of the fuel.