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  • Yokogawa Electric Corp.

Yokogawa joins Avelia’s blockchain-powered SAF-purchasing program

Yokogawa Electric Corp. announced Oct. 11 it has become the first industrial-automation customer headquartered in Asia to join Avelia, a blockchain book-and-claim platform for sustainable aviation fuel (SAF).

Launched in June 2022, Avelia was developed by Shell and Accenture with support from the Energy Web Foundation together with American Express Global Business Travel (Amex GBT).

Avelia aims to aggregate global business demand for SAF, to help increase SAF supply and support the aviation industry’s progress towards net-zero emissions.

With its ability to reduce lifecycle carbon emissions by up to 80 percent when compared to traditional fossil-based fuels, SAF is currently considered as the aviation industry’s most promising pathway to decarbonizing air travel.

Avelia uses blockchain to provide clear and transparent tracking of the environmental attributes of SAF delivered into the aviation-fueling network.

Environmental attributes can then be allocated to both airlines and business customers, while avoiding issues such as double counting.

“It is fantastic to welcome Yokogawa as Avelia’s first industrial-automation customer headquartered in Asia,” said Jan Toschka, the president of Shell Aviation.

“Increasing the supply and use of SAF will only be possible if all parts of the aviation value chain work together, and through Avelia we are working with businesses like Yokogawa to support this transition and help make it happen,” Toschka added.

Koji Nakaoka, a Yokogawa senior vice president and head of the company’s energy and sustainability and global-sales businesses, said, “To achieve net-zero emissions, through such initiatives, Yokogawa will contribute to the swift adoption of SAF and the reduction of CO2 emissions.”

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Apr 15

With Zert mission to democratize finance and provide accessible, instant, and secure blockchain solutions, this collaboration promises innovative advancements in the realm of digital asset cryptocurrency ecosystems.

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