Avfuel To Buy 1 Billion Gallons of SAF in Deal With Alder

The long-term purchase plan is part of a broad sustainable-fuel agreement.

Thursday, June 16, 2022 at 01:05 PM ET

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The agreement brings together the latest pioneering SAF technology and a longstanding worldwide fuel distribution network. [Courtesy: Avfuel]

Key Takeaways:

Avfuel Corp. has made a multimillion-dollar investment in Alder Fuels and committed to purchasing 1 billion gallons of Sustainable Aviation Fuel (SAF) over 20 years.
Alder Fuels specializes in converting biomass, such as agricultural and forest residue, into ultra-low to negative-carbon crude oil (biocrude) that can be refined into a 100% drop-in replacement for traditional jet fuel.
This agreement aims to accelerate the adoption of SAF, contributing to the aviation industry's goal of achieving net-zero carbon emissions by 2050, with commercial availability expected in Q1 2024.

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Avfuel Corp. said it agreed to a multimillion-dollar investment in Alder Fuels, a company that develops technology for producing sustainable aviation fuel, or SAF. As part of the agreement, Avfuel, a global provider of aviation fuel and related services, said it will buy 1 billion gallons of SAF over 20 years.

The agreement brings together the latest pioneering SAF technology and a longstanding worldwide fuel distribution network of more than 3,000 locations and more than 650 Avfuel-branded FBOs.