Neste invests in fuel storage company to enable SAF supply at Amsterdam Airport Schiphol
Neste Corp., a leading provider of renewable diesel and sustainable aviation fuel, has acquired a minority stake in Aircraft Fuel Supply B.V. Aircraft Fuel Supply is the owner and operator of the Amsterdam Airport Schiphol fuel storage company.
"Our ambition is to become a global leader in renewable and circular solutions," said Peter Vanacker, Neste president and CEO. "We are committed to supporting our customers to meet their ambitious climate and carbon neutrality targets and reduce greenhouse gas emissions with our sustainable aviation fuel (SAF). Acquiring a share in Aircraft Fuel Supply B.V. is an important milestone in expanding the supply of SAF at a major global airport."
Inge Stegmann, CEO of Aircraft Fuel Supply, said, "[We are] very pleased with this new shareholder and to contribute to a sustainable aviation industry."
Through its share in Aircraft Fuel Supply, Neste is able to offer to airlines operating at Amsterdam Airport Schiphol in the Netherlands ongoing supply of Neste MY Sustainable Aviation Fuel with immediate effect. Neste's SAF is made from sustainably sourced, renewable waste and residue raw materials. Typically in its neat form and over the lifecycle its use can reduce up to 80 percent* of greenhouse gas emissions compared to fossil jet fuel use.
"We are extremely proud to be growing and securing the availability of SAF at Amsterdam Airport Schiphol," said Thorsten Lange, executive vice president for renewable aviation at Neste. "In doing so, we will support airlines in reaching their emission reduction targets. Front-runner airlines operating at Amsterdam Airport Schiphol can really make a contribution to a more sustainable future for the aviation industry. The Netherlands is a country which has taken steps forward to provide regulatory support to help encourage the supply and use of SAF."
Neste MY Sustainable Aviation Fuel gives an immediate solution for reducing the direct greenhouse gas emissions of flying. It can be used as a drop-in fuel with existing aircraft engines and airport infrastructure, requiring no extra investment. Prior to use, Neste MY Sustainable Aviation Fuel is blended with fossil jet fuel and is then certified to meet ASTM jet fuel specifications.
"Looking at the future, quality is key for us," said Dick Benschop, CEO of Amsterdam Airport Schiphol. "The quality of Schiphol's network must go hand-in-hand with major steps towards sustainable aviation. Sustainable aviation fuel is a proven technology which needs to be scaled up. Therefore we warmly welcome Neste to our airport. They are a front-runner and together with them, our airlines, our other aviation partners and our government we want to lead by example."
Neste and Amsterdam Airport Schiphol are both contributors to the Clean Skies for Tomorrow Initiative: A joint policy proposal to accelerate the deployment of sustainable aviation fuels in Europe, in collaboration with the Energy Transitions Commission and World Economic Forum.
Neste's sustainable aviation fuel annual capacity is currently 100,000 tons. With its Singapore refinery expansion on the way, and with possible additional investment into the Rotterdam refinery, Neste will have the capacity to produce some 1.5 million tons of sustainable aviation fuel annually by 2023. The fuel is already available, used in the market and supplied to various commercial airlines, business aviation customers and at various airports in Europe and North America.
*The method used to calculate life cycle emissions and emission reduction complies with the EU Renewable Energy Directive (2009/28/EC).