Energia
International Airlines Group announces significant investment into Nova Pangaea Technologies in global race to secure Sustainable Aviation Fuel
IAG's investment will progress the development of 'NOVAONE', NPT's first waste-to-fuel commercial-scale production facility, and the UK's first of its kind. The project is in addition to IAG's investment programme in SAF, which at the end of 2022 amounted to $865 million in firm commitments on SAF purchases and investments.
A recent report from cCarbon calculates that Europe will produce a third of the world's SAF by 2030, with the SAF global market value reaching $29.7 billion , up from $1.1 billion last year. NPT is eyeing expansion in Europe as the region will play an important role in delivering global supplies of SAF.
International Airlines Group (IAG) is one of the world's largest airline groups with 558 aircraft, directly connecting the UK to 334 destinations in 81 countries. Its leading airlines in Spain , the UK and Ireland include Aer Lingus , British Airways, Iberia, Vueling and LEVEL.
Nova Pangaea Technologies (NPT) is a cleantech company that has created a revolutionary process, converting wood residues and agricultural waste into advanced biofuels and other bio products, some of which are then used to produce Sustainable Aviation Fuel (SAF), a crucial tool in the effort to decarbonise flight.
'Project Speedbird' is a partnership with British Airways, LanzaJet and Nova Pangaea Technologies. The partnership will see bioethanol feedstocks processed into SAF for British Airways by a dedicated SAF plant using LanzaJet's patented technology.
View original content:https://www.prnewswire.co.uk/news-releases/international-airlines-group-announces-significant-investment-into-nova-pangaea-technologies-in-global-race-to-secure-sustainable-aviation-fuel-301883582.html