Avfuel Invests In Alder Fuels With Plans To Buy 1B Gal Of SAF
Avfuel Technology Initiatives Corp., a division of Avfuel, has made a multimillion dollar investment in Alder Fuels, which converts biomass, such as regenerative grasses and forest and agricultural residues into sustainable, low-carbon crude oil for aviation.
Alder’s biocrude refined into sustainable aviation fuel is in the process of certification as a 100% drop-in replacement for petroleum-based jet fuel. The company expects the SAF to become available in the first quarter of 2024.
As part of the agreement, Avfuel has committed to purchase 1 billion gallons of SAF over a 20-year period and to use the fuel to supply business and commercial aviation on a global basis. The partnership is the largest publicly-announced SAF agreement in business aviation history, Avfuel says, and will help the industry achieve its commitment to net-zero status by 2050.
“Avfuel is committed to providing sustainable solutions for its customers, including business aviation, fixed based operators and airlines,” says C.R. Sincock, Avfuel executive vice president. “We have been a forerunner in supplying SAF to business aviation and this transformative agreement builds upon our commitment to lead its adoption .... This is an important milestone in business aviation’s SAF adoption story, but we realize reaching net zero targets will require a collective effort industry-wide to provide and embrace sustainable fuels. Only together can we reach this new height.”
U.S. forestry and agricultural residues by themselves could provide enough biomass energy to generate more than 17 billion gal. of jet fuel and displace 75% of U.S. aviation fuel consumption, the companies say, citing the U.S. Department of Energy.
“If the U.S. were to broadly adopt regenerative agricultural practices, which capture more carbon in healthier soil compared to traditional methods, the U.S. could generate an additional seven billion gallons of SAF, which would completely replace the country’s current fossil jet fuel consumption,” Alder says.
Alder Fuels’ technology converts biomass to green crude oil scalable for aviation’s demand at a cost comparative to petroleum, says Bryan Sherbacow, Alder Fuels CEO. Before founding Alder, Sherbacow built the first SAF refinery in collaboration with Honeywell and United Airlines in Paramount, California.